Nishad Singh

Sam Bankman-Fried is guilty on all seven federal charges in his criminal trial for defrauding customers of his crypto exchange out of billions of dollars with his crypto empire, jurors decided on Thursday night in a Southern District of New York court, Reuters

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 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.

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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.

Fear, uncertainty, and doubt around Alameda Research’s relationship with his FTX cryptocurrency exchange caused Sam Bankman-Fried to consider shuttering the trading platform in 2022, according to an unpublished tweet thread revealed in his trial on Monday.

Last year, it took reporters digging into Alameda Research’s balance sheet to finally show that ex-FTX CEO Sam Bankman-Fried’s big crypto house of cards was built on a shaky bedrock of customer funds.

Ex-FTX CEO Sam Bankman-Fried is again being accused of campaign finance violations. This time, prosecutors say the once-crypto kingpin used other FTX execs to hide just how much of the Washington machinery he was trying to turn pro-crypto.

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