Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

What's going on, guys? It is Friday, October 27th, and today you know we are talking about

Sam Bankman-Freed testifying in his own defense. Before we get into that, however, if you are

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All right, friends. What a long-awaited, much anticipated day. Yesterday, Sam went through a mock testimony, which we will talk all about why that happened. And this morning, he is back

on the stand for real in front of the jury.

We are going to get into all of that, but first, I think it's worth noting that there really

hasn't been all that much of interest happening this week before this very dramatic

conclusion of this case. For example, yesterday's morning session featured the final witness

for the prosecution before the first two witnesses for the defense. The prosecution witness was an FBI agent who primarily

functioned as a way to introduce signal chats into evidence. He testified that of the more than 300

signal groups Sam was a part of, 288 of them were set to auto-delete messages. Now, after that,

the defense introduced brief testimony from the lawyer who had acted for

FTX and Sam when he met with Bohemian regulators the day after FTX filed for bankruptcy. She simply

established that Sam had cooperated with the authorities in turning over the remaining FTCS assets

to a liquidator and handing in his passport. The defense's second witness was a financial

analyst who performs forensic work. He explained

work that he had done to extract customer data from the FTX database and testified to the amount

drawn from Alameda's line of credit. His testimony appeared to be designed to establish how many

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