SBF TRIAL Podcast 10/30: Sam Bankman-Fried Takes The Stand For a Third Day In FTX Fraud Trial
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 30 October 2023
⏱️ 9 minutes
🧾️ Download transcript
Summary
Sam Bankman-Fried took the stand in his criminal trial to present his case, emphasizing that FTX and Alameda Research's problems stemmed from errors, a lack of dedicated risk management, and mistakes made by key lieutenants rather than deliberate fraud on his part. During the testimony, Bankman-Fried questioned the accuracy of key witnesses' statements and described misunderstandings and differences in interpretation regarding certain events and financial practices related to the case.
Link to story: Sam Bankman-Fried Throws Caroline Ellison Under Bus in Testimony
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Transcript
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| 0:53.4 | Welcome to the SBF trial, a CoinDesk Podcast Network newsletter, bringing you daily insights from inside the courtroom, where Sam Bankman-Fried will try to stay out of prison. |
| 1:06.7 | Follow the Coin Desk podcast network to get the audio each morning with content from the Coin Desk |
| 1:11.2 | Regulation Team and voiced by Wondercraft AI. Sam didn't do it. He didn't defraud anyone. He didn't |
| 1:19.4 | steal customer funds. He just built a company, which turned out basically the opposite of the |
| 1:24.9 | product he envisioned when he founded FTX. A lot of people got hurt, |
| 1:29.8 | customers, employees, and the company ended up in bankruptcy. At least that's his story. |
| 1:35.5 | The biggest mistake was we did not have a dedicated risk management team. We didn't have a chief |
| 1:40.4 | risk officer, he told the court Friday. We had a number of people who were involved |
| 1:44.8 | to some extent in managing risk, but no one dedicated to it, and there were significant oversights. |
| 1:51.0 | Bankman Freed finally took the stand to try and convince the 17 people overseeing his criminal |
| 1:56.5 | fraud trial that FTX and Alameda researchers collapse were the result of screw-ups and errors, |
| 2:02.6 | and of his hand-picked lieutenant's screw-ups and errors, not a deliberate fraud committed by the 31-year-old. |
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