Sam Bankman-Fried, the former CEO of crypto exchange FTX, is currently on trial for alleged fraud. On the third day of the trial, Adam Yedidia, Bankman-Fried’s former roommate at MIT and FTX developer, testified about the $8-billion deficit the exchange reported prior to its bankruptcy. Yedidia informed Bankman-Fried about a bug in FTX’s code which resulted in the deficit. Yedidia also claimed Bankman-Fried asked him to speak on the matter of FTX’s code via the messaging app Signal and to use auto-delete to keep messages from regulators. Yedidia also testified that Bankman-Fried asked him about his personal relationship with former Alameda Research CEO Caroline Ellison. Ellison is expected to testify against Bankman-Fried as part of her plea agreement with prosecutors. The judge overseeing the criminal trial, Lewis Kaplan, revoked SBF’s bail in August due to allegations of witness intimidation. The trial is expected to run through November and other witnesses such as Gary Wang, Nishad Singh, and Constance Wang may be called.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	negative
Relevance Score	9
People	Sam Bankman-Fried, Adam Yedidia, Caroline Ellison, Danielle Sassoon, Lewis Kaplan
Companies	New York Times, United States District Court for the Southern District of New York, FTX, Signal, Alameda Research
Currencies	None
Securities	None