The government ended its cross examination of Sam Bankman-Fried Tuesday, concluding a contentious clash in the trial’s final days as the FTX co-founder tried to convince a jury he didn’t steal billions of customer funds from his own cryptocurrency exchange.
He also distanced himself from certain decisions and actions, arguing that he didn’t know FTX customer funds were being used to pay off Alameda loans and trading debts until October 2022, roughly one month before the exchange collapsed. The statements she cited ranged from how well protected FTX was against risks, to how closely involved he was in decision making at Alameda, to special privileges Alameda had to borrow billions of dollars, without collateral, from FTX.
Bankman-Fried testified that he believed at the time of the tweet that Alameda and FTX together had assets exceeding liabilities.
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