FTX’s Bankman-Fried blames Alameda’s Ellison for absent hedging
FTX founder Sam Bankman-Fried testified before Judge Kaplan and a jury in a New York federal court claiming his team sometimes made decisions out of his purview and against his instructions. Following a fraught mock testimony for Bankman-Fried, Judge Lewis A. Kaplan of the Southern District of New York ruled to allow FTXs data retention policy during cross-examination. The policy was supposedly drafted by the defendant‘s general counsel Daniel Friedberg and speaks to the Signal auto-delete feature used by Bankman-Fried’s companies for internal communications, per InnerCityPress. The FTX founder fielded an advice-of-counsel defense built around shifting blame to his legal representatives at the time. Its unclear if this strategy will ultimately yield Bankman-Fried a not guilty verdict. VLOG III Oct 27: After Sam Bankman-Fried on stand from 9:30 to 4:30, passing the buck to Caroline and dissing the (KC) Royals. Inner City Presss live tweeted, here: https://t.co/1xkZgs4EsM Cross on Monday- and Tuesday. Trial continues – as does UN failure on Gaza - Inner City Press (@innercitypress) Oktubre 27, 2023 Ellison accused of not hedging Bankman-Fried categorically stated that he did not commit fraud at FTX, the crypto exchange he co-founded with his childhood buddy Gary Wang, or at Alameda Research, a trading firm with a massive role



