meta_pixel
Tapesearch Logo
Log in
Unchained

SBF Trial, Day 12: Former FTX General Counsel Speaks Out Against SBF

Unchained

Laura Shin

News, Tech News, Business News

4.61.3K Ratings

🗓️ 20 October 2023

⏱️ 10 minutes

🧾️ Download transcript

Summary

On the 12th day of the SBF Trial, former FTX General Counsel Can Sun testified about a $7 billion deficit in customer funds. Sun, who was responsible for crafting FTX's terms of service, expressed shock at the deficit and revealed that Sam Bankman-Fried had asked him for legal justifications. Sun also mentioned that Nishad Singh, a key witness and former head of engineering at FTX, looked emotionally drained days before the company's collapse. Sun's testimony took a dramatic turn during a meeting with Bankman-Fried and others, where it was confirmed that FTX lacked sufficient funds to cover customer withdrawals. This meeting solidified Sun's suspicions that Alameda Research had misappropriated FTX customer deposits.  The day concluded with Robert Boroujerdi of Third Point stating that Bankman-Fried had omitted significant details that would have altered the firm’s decision to invest $60 million in the now failed crypto exchange. That investment is now worth zero. The trial will resume in a week, adding more suspense to this unfolding legal drama. Catch up on Unchained’s previous coverage:  SBF Trial, Day 1: Possible Witnesses Include FTX Insiders, Big Names in Crypto, and SBF’s Family SBF Trial, Day 2: DOJ Says Sam Bankman-Fried ‘Lied’ While Defense Claims His Actions Were ‘Reasonable’ SBF Trial, Day 3: Why a True Believer in FTX Flipped Once He Learned One Fact SBF Trial, Day 4: SBF’s Lawyers Annoy Judge Kaplan, While Wang Reveals Alameda’s Special Privileges SBF Trial, Day 5: SBF's Defense Finally Found Its Legs, But Can It Counter Caroline Ellison? SBF Trial, Day 6: Caroline Ellison Recalls 'The Worst Week of My Life' SBF Trial, Day 7: In SBF Trial, Did the Defense Lose Its Opportunity With the Star Witness? SBF Trial, Day 8: Former BlockFi CEO Adds Credibility to Fraud Charges SBF Trial, Day 9: Nishad Singh Describes Former FTX CEO as a Bully and Big Spender SBF Trial, Day 10: Defense Struggles to Discredit Nishad Singh's Testimony SBF Trial, Day 11: How Alameda Got FTX Into a $9 Billion Hole Did Sam Bankman-Fried Have Intent to Defraud FTX Investors? Why These Lawyers Say It's Over for SBF-But His Only Hail Mary Is to Testify Here’s How Sam Bankman-Fried’s High-Stakes Trial Could Play Out SBF Trial: How Sam Bankman-Fried’s Lawyers Might Try and Win His Case The High-Stakes Trial of Sam Bankman-Fried Begins: What to Expect Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

This episode is brought to you by Shopify.

0:03.0

That's what I hear when I make another sale on Shopify.

0:07.0

The all-in-one commerce platform that allows you to start, run and grow your business.

0:12.0

Shopify is revolutionising millions of businesses worldwide.

0:17.0

So sign up for a £1 per month trial period at Shopify.co.uk

0:23.0

Ask podcast 23 all lowercase and take your business to the next level today.

0:30.0

Are you ready for a monso business bank account?

0:33.0

Heather from the Accountant's Growth Club was.

0:35.0

Knowing what cash I have is really important and monso business makes it easy.

0:39.0

It automatically puts 20% of my income into a tax pop.

0:43.0

When it's time to pay your VAT, I always know the money's there.

0:46.0

If you're ready for a monso business account, apply today.

0:49.0

Just search monso business.

0:51.0

Only sole traders or limited company directors in the UK can apply.

0:54.0

Get tax pots with monso business probe for £5 a month, ease and seize apply.

1:00.0

With the written under the radar genre,

1:02.0

are a proper out there podcast.

1:04.0

Sometimes it's better when you get weird, especially when it comes to switching up your soft drink.

1:09.0

Introducing new Doctor Pepper Zero.

1:12.0

With the same blend of 23 unique flavours, it tastes just as weird as regular Doctor Pepper.

1:18.0

But with zero sugar and zero calories, it tastes you can't quite put your finger on weird.

1:24.0

But in a surprisingly good way, try more weird with Doctor Pepper Zero.

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from Laura Shin, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Laura Shin and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.