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FTX founder Sam Bankman-Fried testifies at his fraud trial

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FTX founder Sam Bankman-Fried has begun testifying at his fraud trial, saying the innovative business he hoped would move the cryptocurrency ecosystem forward ended up doing the opposite and customers were hurt.

In this courtroom sketch, FTX founder Sam Bankman-Fried, right, is questioned by his attorney, Mark Cohen, left, as Judge Lewis Kaplan listens on the bench, center, during his trial in Manhattan federal court, Thursday, Oct. 26, 2023, in New York. In this courtroom sketch, FTX founder Sam Bankman-Fried is questioned during his trial in Manhattan federal court, Thursday, Oct. 26, 2023, in New York.

Bankman-Fried, 31, acknowledged some of his failures early in his testimony, saying he made mistakes, large and small.Caroline Ellison, saying Sam Bankman-Fried corrupted her values, found relief when truth came out Asked by his lawyer, Mark Cohen, if he defrauded anyone or took customers’ funds, Bankman-Fried answered, “No I did not.”

 

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Sam Bankman-Fried could take stand at fraud trial over FTX collapseSam Bankman-Fried could take the stand at his fraud trial as soon as Thursday, when prosecutors are set to finish presenting their case accusing the founder of now-bankrupt cryptocurrency exchange FTX of stealing billions of dollars from customers.
Source: Reuters - 🏆 2. / 97 Read more »