On the 12th day of the SBF Trial, former FTX General Counsel Can Sun testified about a $7 billion deficit in customer funds. Sun, who was responsible for crafting FTX's terms of service, expressed shock at the deficit and revealed that Sam Bankman-Fried had asked him for legal justifications. Sun also mentioned that Nishad Singh, a key witness and former head of engineering at FTX, looked emotionally drained days before the company's collapse.
Sun's testimony took a dramatic turn during a meeting with Bankman-Fried and others, where it was confirmed that FTX lacked sufficient funds to cover customer withdrawals. This meeting solidified Sun's suspicions that Alameda Research had misappropriated FTX customer deposits.
The day concluded with Robert Boroujerdi of Third Point stating that Bankman-Fried had omitted significant details that would have altered the firm’s decision to invest $60 million in the now failed crypto exchange. That investment is now worth zero. The trial will resume in a week, adding more suspense to this unfolding legal drama.
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The Chopping Block: Are We Back? The 'Low IQ' Response to the Potential Spot Bitcoin ETF - Ep. 561
Why a Spot Bitcoin ETF Will Probably Launch No Later Than January 10 - Ep. 560
The Chopping Block: A Rough Week 3 for SBF, DCG Troubles, Fees at Uniswap - Ep. 559
Another Bad Week for Sam Bankman-Fried in His Criminal Trial - Ep. 558
SBF Trial, Day 11: How Alameda Got FTX Into a $9 Billion Hole
SBF Trial, Day 10: Defense Tries But Fails to Undercut Nishad Singh's Credibility
SBF Trial, Day 9: Nishad Singh Describes Former FTX CEO as a Bully and Big Spender
Why These Lawyers Say It's Over for SBF--But His Only Hail Mary Is to Testify - Ep. 557
SBF Trial, Day 8: Former BlockFi CEO Adds Credibility to Fraud Charges
How Heated Sidebars During the SBF Trial Could Impact the Jury’s Decision - Ep. 556
SBF Trial, Day 7: In SBF Trial, Did the Defense Lose Its Opportunity With the Star Witness?
The Chopping Block: Gabriel Shapiro on Why Sam Bankman-Fried May Be a ‘Sociopath’ - Ep. 555
SBF Trial, Day 6: Caroline Ellison Recalls 'The Worst Week of My Life
SBF Trial, Day 5: SBF's Defense Finally Found Its Legs, But Can It Counter Caroline Ellison?
SBF’s Lawyers Could Be Annoying the Judge. How Might That Impact the Trial? - Ep. 554
SBF Trial, Day 4: SBF's Lawyers Annoy Judge Kaplan, While Wang Reveals Alameda’s Special Privileges
Did Sam Bankman-Fried Have Intent to Defraud FTX Investors? - Ep. 553
SBF Trial, Day 3: Why a True Believer in FTX Flipped Once He Learned One Fact
SBF Trial, Day 2: DOJ: Sam Bankman-Fried ‘Lied’ His Way to ‘Wealth, Power, and Influence’
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