The trial of former FTX CEO Sam “SBF” Bankman-Fried is currently underway in New York, and Cointelegraph reporters are providing live coverage of the proceedings. The trial is nearing its conclusion, with closing arguments set for November 1. Bankman-Fried took the stand and testified that he believed it was acceptable to utilize $8 billion in customer deposits for risk management purposes. While he acknowledged making mistakes, he vehemently denied any wrongdoing in FTX’s association with Alameda Research. Throughout the trial, Bankman-Fried’s disdain for regulators has become apparent, as he was reportedly overheard expressing his frustration with them in private. The trial has also shed light on the collapse of FTX and the disappearance of $10 billion in customer deposits. Notably, both the defense and prosecution have stated that they do not intend to call any additional witnesses.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	1
People	Ryan Salame, Cory Gaddis, Gary Wang, Nishad Singh, Sam Bankman-Fried
Companies	Genesis Capital, Modulo Capital, K5 Global Holdings, Dave Inc, Anthropic PBC
Currencies	None
Securities	None