Sam Bankman-Fried (SBF), the former billionaire and founder of FTX and Alameda Research, testified in court about the $8 billion shortfall that led to the collapse of the companies. SBF stated that he was blindsided by the shortfall and described the efforts made to address the situation and cooperate with regulatory authorities. The trial also addressed concerns raised by the prosecution, including disruptions in the gallery and objections to certain statements made during cross-examination. Judge Kaplan ruled on the admissibility of evidence and expressed confusion about the relevance of omnibus wallets to the case. The trial is expected to continue into November before a verdict is reached. SBF will retake the stand and face further cross-examination from the prosecution.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	1
People	Sam Bankman-Fried
Companies	FTX, Alameda Research
Currencies	None
Securities	None