Sam “SBF” Bankman-Fried, the CEO of FTX and Alameda Research, testified in his ongoing criminal trial in the Southern District of New York. Bankman-Fried denied any wrongdoing between the two companies but admitted to making mistakes during their rapid growth. He refuted claims of directing political donations but acknowledged the importance of lobbying for the crypto industry in Washington, D.C. The trial has also shed light on FTX’s communication guidelines, Alameda’s role as a payment and liquidity provider for FTX, and the failure to implement hedging strategies. Bankman-Fried’s examination is expected to conclude soon, followed by cross-examinations and closing arguments. If convicted, he could face up to 115 years in jail on fraud and conspiracy charges.

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Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	1
People	None
Companies	Ellison, Bankman-Fried, Alameda Research, FTX, Terra
Currencies	Bitcoin, Terra Luna Classic
Securities	None