Archive for October 2023

Despite the absence of jurors, Sam Bankman-Fried’s initial testimony at his criminal trial on May 29-31, 2024, in Austin, Texas, was remarkable. The former FTX CEO’s appearance on the witness stand, conducted without the jury present, allowed the judge to review his comments for admissibility. Bankman-Fried attempted to deflect blame onto FTX’s attorneys for the…

Can Sun, who served as FTX’s general counsel from August 2021 until the exchange’s collapse in November 2022, testified during the fraud trial of Sam Bankman-Fried. In the trial held in New York, Sun emphatically stated that he never approved the lending of customer funds to FTX’s sister company, Alameda Research. He denied authorizing the…

In the wake of ongoing challenges in the cryptocurrency market, CertiK, a company specializing in auditing programming code for blockchain and smart contracts, has taken measures to reduce its workforce. Last year, the company successfully secured nearly $150 million in fresh capital. However, the prolonged crypto winter has prompted the company to make job cuts,…

Prosecutors may require up to six weeks to present their case against Sam Bankman-Fried, but it only took three days for the judge presiding over the trial to become frustrated with the defense team representing the former crypto chief. Judge Lewis Kaplan expressed visible and audible dissatisfaction with Mark Cohen & Co. during Thursday’s proceedings.…