Sam Bankman-Fried faces multiple fraud charges in the collapse of his cryptocurrency firm FTX. Bankman-Fried will testify in his defense.
Sam Bankman-Fried testified that FTX’s widespread usage of encrypted messaging apps such as Signal is primarily due to security concerns.
Bankman-Fried said there were “constant hacking attempts” against FTX from third parties. Employees of FTX, which was started in Hong Kong, also had concerns about access to their devices, he said. Another concern was that FTX’s data could be sold to competitors, he said.
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