Sam Bankman-Fried testified before a jury for the first time on Friday saying he did not defraud FTX customers or take their funds, according to Bloomberg’s live reporting of the trial.
The founders of cryptocurrency exchanges face a mountain of regulatory challenges and billions in personal losses.
FTX Trading is examining restarting the crypto exchange with three bidders, according to a Bloomberg report Tuesday.
Binance is once again fighting off regulators, claiming the Commodity Futures Trading Commission’s (CFTC) lawsuit is an overreach of U.S. law. The largest cryptocurrency exchange in the world says the agency is trying to regulate foreign individuals and corporations operating outside the US.
The trial of FTX founder Sam Bankman-Fried reached its halfway point, and a flurry of incriminating evidence, emotional testimonies, and odd tales have surfaced in the last three weeks.
A forensic accountant at Sam Bankman-Fried’s trial tried piecing together where $9 billion of missing FTX customer funds went on Wednesday. “Oh, yes,” said the accountant when asked if FTX ever misused customer funds.
Sam Bankman-Fried’s defense team requested a higher, longer-lasting dose of Adderall on Sunday night, so their client can meaningfully participate in his ongoing trial.