The ongoing trial of the former CEO of the defunct crypto exchange FTX, Sam Bankman-Fried, continued on October 4 with both parties giving their opening arguments. The prosecution accused SBF of stealing customers’ funds up to $10 billion and spending it on himself and political contributions. The defense argued that SBF acted in good faith and that the funds transferred to Alameda were loans that he believed were permitted. The defense also suggested that the trading firm’s failures were due to the ex-girlfriend of SBF, Caroline Ellison, who was the CEO of Alameda, failing to hedge against the crypto prices. The trial is scheduled to continue on October 5 with the prosecution expected to call witnesses to prove its case.

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Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	8
People	Sam Bankman-Fried, None, Mark Cohen, Caroline Ellison, Thane Rehn
Companies	United States Attorney, Tradingview.com, Inner City Press, FTX, Alameda Research
Currencies	DeFiato, US Dollar, FintruX, Ethereum, Bitcoin
Securities	None