Many of his claims contradict testimonies from other former FTX and Alameda executives.
Sam Bankman-Fried testified before a jury for the first time on Friday saying he did not defraud FTX customers or take their funds, according to Bloomberg’s live reporting of the trial. The FTX and Alameda’s founder said that Alameda “borrowed” them, but admitted “a lot of people got hurt.” After the jury was unexpectedly sent home Thursday by Judge Kaplan, Bankman-Fried testified to the judge and media reporters. The jury was able to hear a similar testimony from SBF Friday.
The funds allegedly “borrowed” from customers have still not been returned in full, and the company is negotiating a sale or revamp to pay customers back. The defense’s claims that SBF was an ignorant CEO and founder spread far and wide. Bankman-Fried says he only loosely understood cryptocurrency when he started the company. The founder also says he only loosely skimmed over FTX’s terms of service, and that he wasn’t sure of the extent they allowed Alameda to take customer funds.
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