The trial of the former CEO of the defunct crypto exchange FTX, Sam Bankman-Fried (SBF), has produced some interesting revelations even as SBF is set to testify in his case when his hearing resumes on October 26. The most notable ones seem to have come from the testimonies of his ‘inner circle.’
How Sam Bankman-Fried Saw Himself As part of its case, the prosecution got Alameda Reserach’s ex-CEO Caroline Ellison, FTX’s co-founder Gary Wang, and FTX’s former Director of Engineering Nishad Singh to testify against their former associate Bankman-Fried. Many will argue that these witnesses lived up to the hype as key witnesses as they helped corroborate the prosecution’s allegations.
However, the extra details from their testimonies have also not gone unnoticed. One of them happens to be when Ellison mentioned on the stand that SBF had mentioned his ambition of one day becoming the President of the United States. While they may be unrelated, it could also explain why Bankman-Fried was cozying up to several political figures.
The defendant’s curls were always seen to be one of his standout features, and he thought so, too, according to Ellison’s testimony. She mentioned on the stand that Bankman-Fried had once told her that his hair was “essential to his image” and very valuable, as he believed that the hair had earned him more money in his past jobs.
How Co-Conspirators Felt After The FTX Collapsed While admitting to her role as a co-conspirator, Ellison seemed to be remorseful (or so it seemed) about her actions. During her testimony, she mentioned how she felt a sense of relief after FTX’s collapse as she didn’t have to lie anymore. According to her, the vent provided an opportunity for her to take responsibility and be honest about what she had done.
Ellison wasn’t the only one who felt certain emotions in the weeks following FTX’s collapse, as Singh mentioned that he was suicidal for days. He mentioned how, in spite of it all, he was optimistic that they could salvage the whole situation rather than playing the blame game.
Meanwhile, during that period, it would seem that all Wang was concerned about was not going to jail, as he flew into the US six days after FTX filed for bankruptcy. According to him, he believed that he was likely to be charged and decided to be one step ahead by agreeing to cooperate with the prosecutors in order to get a shorter prison sentence.
Sam Bankman-Fried’s trial will resume on October 26, with the prosecution concluding its case, after which the defense will move to open its case. The defendant is set to testify in what seems to be a last-ditch effort by SBF’s lawyers to salvage his case.
FTT shows strength as trial continues | Source: FTTUSDT on Tradingview.com Featured image from Rolling Stone, chart from Tradingview.com
Sign Up for Our Newsletter! For updates and exclusive offers enter your email.
Scott Matherson Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.