FTX founder Sam Bankman-Fried told a jury Friday that he didn’t commit fraud and didn’t take customer funds, beginning his defense against criminal charges that he stole billions from his cryptocurrency exchange and spent the money on investments, political donations, and real estate.
His highly-anticipated testimony began Friday morning with questions from his attorney Mark Cohen that attempted to address the heart of the government’s case against his client. Bankman-Fried said during that dress-rehearsal hearing ion front of a judge that he believed that his crypto trading firm Alameda Research was allowed to borrow customer money deposited with FTX due to a "terms of service" document and another non-public agreement drafted with help from FTX’s top lawyer.
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