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Concept Of Digital Wallet And Bitcoins On Printed Circuit Board. Bitcoins Spill Out Of The Pink Curved Smartphone.

The FTX Trial is Heating Up

Convicted for fraud, the former crypto mogul Sam Bankman-Fried is trying to offload the blame. But a key witness weakens his case.

The trial of Sam Bankman-Fried, the former CEO of the cryptocurrency exchange FTX, is underway in Manhattan. Investors in FTX lost billions of dollars earlier this year, but Bankman-Fried is denying alleged fraud and misuse of funds. However, prosecutors are accusing him of systematically stealing those funds and channeling them unto personal means. A bombshell witness, Caroline Ellison, Bankman-Fried’s ex-girlfriend and a “top executive” in his business, took the stand earlier this month and supported the criticisms of the prosecution. David Gura writes for NPR, Though other former top executives at FTX businesses are testifying during the trial, Ellison was always considered the most important witness. After prosecutors first called her to the witness stand, everyone stood and faced the Read More ›