Sam Bankman-Fried To Testify In Court

Sam Bankman-Fried To Testify In Court

LegalExchange

By Miles

26 Oct 2023 (8 months ago)

1 min read

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Ex-FTX boss, Sam Bankman-Fried, to speak in court as worried customers hope for answers about their money.

Former FTX leader, Sam Bankman-Fried (SBF), is set to defend himself in court. He will speak on Thursday after the prosecutors brought witnesses against him. His lawyer, Mark Cohen, said SBF's speech would be short. The court has recordings of SBF talking about FTX's troubles. These recordings might be compared to what he says in court.

SBF made mistakes before the trial. He talked to the media, breaking his bail rules, and was taken by the police. He even lost his first lawyer. Legal expert Brian Newman thinks SBF will face tough questions in court. The jury has also heard about FTX's problems from acting CEO, John Ray III.

FTX Customers Want Answers: As the trial goes on, FTX customers are worried. They are waiting to get their money back. The exchange found $5 billion of customer money and got permission to sell crypto assets. Some money was moved to another exchange, Binance, for selling. FTX is trying to get more money back by taking legal actions against others, including SBF's parents. Everyone is waiting to hear from SBF to know more about the lost funds.

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