Prosecutors cross-examined FTX co-founder Sam Bankman-Fried on Monday after the former crypto billionaire testified in his own defense. Bankman-Fried is facing decades in prison on seven federal charges, including wire fraud, securities fraud and money laundering. He has pleaded not guilty to all charges. The trial is expected to conclude in the next few days.
For example, Bankman-Fried testified he did not go to the Middle East in October 2022 to raise funds to fill holes in FTX's balance sheet. He said he viewed Alameda and FTX as solvent and made the trip to speak at a conference and meet with investors, regulators and employees. He was also asked about a now-infamous, and since deleted, tweet he sent last Nov. 7: 'FTX is fine. Assets are fine.
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