On the final day of his testimony in court, FTX founder Sam Bankman-Fried has admitted he ‘deeply regrets not taking a deeper look’ into the borrowing of $8 billion in customer deposits by his sister firm Alameda Research.
The alleged crypto fraudster periodically smirked and frowned in response to questions about the collapse of his bitcoin empire in November 2022 by prosecutor Danielle Sassoon, and gave a slew of evasive answers.
He is accused of committing one of the biggest financial frauds in American history – by using FTX customer deposits to prop up risky investments in fledgling hedge fund Alameda, which he ran with his ex-girlfriend Caroline Ellison.
I have no doubt the jury will convict as it sounds he behaved like a jerk throughout.
But how long will he get? Will he be pardoned?
