There are three weeks to go in crypto's most defining court case yet involving FTX founder Sam Bankman-Fried. Let's recap.
The trial of FTX founder Sam Bankman-Fried reached its halfway point, and a flurry of incriminating evidence, emotional testimonies, and odd tales have surfaced in the last three weeks. The U.S. Department of Justice charged SBF with defrauding customers out of billions of dollars between 2019 and 2022. FTX crashed in November 2022 after Coindesk reported on the company’s questionable balance sheet and odd relationship with Alameda Research.
FTX Had ‘Creative’ Balance Sheets When Ellison sent SBF Alameda’s rocky balance sheets in mid-2022, he asked her to find “alternative ways of presenting the information.” Ellison was able to find some creative accounting methods to make Alameda’s financials look less risky. Those balance sheets were ultimately sent over to Genesis Trading, which is involved in another crypto fraud case from around the same time period.
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