The fallen crypto mogul has defended himself as a well-meaning screw-up. His inner circle has a different narrative.
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The material outcome of the collapse of FTX has never been in any question. The crypto exchange had money its customers deposited, and then it didn’t. The issue at the heart of Sam Bankman-Fried’s trial hasn’t even been whether he stole the money or simply lost it. It’s been whether he was a—if he made a bunch of misrepresentations to his customers and his lenders.
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