Laura reports on the testimony of three witnesses on Thursday, including one who declared that “FTX defrauded all of its customers” and another stating that he had committed financial crimes at the direction of Sam Bankman-Fried.
Former FTX software developer Adam Yedidia, Paradigm co-founder Matt Huang, and FTX and Alameda co-founder Gary Wang filled in the details of different aspects of FTX and Alameda’s business. Huang’s testimony detailed how Paradigm expressed concern about FTX’s lack of corporate controls and how the company was “owned and controlled by Sam.” Wang has only started his testimony but has already said he implemented advantages for Alameda into FTX’s code at Bankman-Fried’s direction.
Yedidia’s account had the most emotional details, describing how he had a strong belief in the company, to the point where, when employees began leaving FTX, he had messaged Bankman-Fried that he loved him and wasn’t going anywhere, but that it flipped once he realized “FTX defrauded all of its customers.” Find out what new information caused him to have a change of heart in this episode.
If you need to catch up, don’t miss our recent coverage on the trial:
Learn more about your ad choices. Visit megaphone.fm/adchoices
Bits + Bips: Is This the Real Reason the SEC Approved the Ethereum ETFs? - Ep. 656
How the U.S. Government Can Protect the Dollar Through Stablecoins - Ep. 655
The Chopping Block: Crypto Populism: From Celebrity Coins to Politics -Ep. 654
With Ether ETFs in the Works, How Else Might the SEC Pivot on Crypto? - Ep. 653
Why Many Democrats, Including the White House, Have Come Around on Crypto - Ep. 652
Senator Cynthia Lummis on Why Crypto Now Has Bipartisan Support in Congress - Ep. 651
The Chopping Block: Response to SAB-121, ETH ETF, & More - Ep. 650
Bits + Bips: Is US Politics Driving the ETH ETF Approval? - Ep. 649
Why Spot Ether ETFs Are Now Likely to Be Approved on Thursday - Ep. 648
Why the DOJ Doesn’t Want These MEV Exploiters to Get Away With It - Ep. 647
The Chopping Block: Crypto in US Politics & Roaring Kitty is back! - Ep. 646
Erik Voorhees' New Venture: Why AI Desperately Needs Privacy and Uncensorability - Ep. 645
The Chopping Block: EigenLayer Airdrop, LayerZero's Sybil Strategy, and Robinhood vs. SEC – What’s Shaping Crypto’s Future? - Ep. 644
How the Top One-Third of FTX Creditors Are Boosting the Payouts for Everyone Else - Ep. 643
Bits + Bips: Does Macroeconomics Point to a Potential Crypto Supercycle? - Ep. 642
Why Memecoins Have Been 2024's Most Profitable Crypto Trade: Ansem and Kelxyz - Ep. 641
Why EigenLayer Gave Away More Tokens After Widespread Criticism of Its Stakedrop - Ep. 640
The Chopping Block: EigenLayer Airdrop Fallout, Shkreli vs. Io.net, and CZ's Sentencing - Ep. 639
Bitcoin Layer 2s Aim to Attract Ethereum-Like Dapps. Will They Succeed? - Ep.638
Consensys’s Lawsuit Against The SEC: Will It End Gensler's ‘Unlawful Power Grab’? - Ep. 637
Create your
podcast in
minutes
It is Free
Pharmacy Podcast Network
Børsen Morgenbriefing
Sarah Westall - Business Game Changers
Startitup podcasty
Wall Street Breakfast