NEW YORK - FTX founder Sam Bankman-Fried was grilled on Tuesday about what a U.S. prosecutor called his "cozy" relationship with officials in the Bahamas, where the cryptocurrency exchange was based before its November 2022 collapse.
Earlier in the trial, former FTX executive Gary Wang, who pleaded guilty to fraud and agreed to cooperate with prosecutors, testified that Bankman-Fried sought to transfer funds to the Bahamas after FTX's Nov. 11, 2022, U.S. bankruptcy because he thought authorities might let him stay in charge. Sassoon at one point asked Bankman-Fried whether he had "cultivated a cozy relationship" with the Bahamian government - a question to which the defense objected. Bankman-Fried testified that he had spent time with Bahamian officials and became close with "some of them."Sassoon in her cross-examination often has asked Bankman-Fried about his public statements prior to FTX's collapse that keeping customer funds safe was a priority.
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