3:59 p.m. ET, October 30, 2023
SBF’s answers remain ambiguous
FTX founder Sam Bankman-Fried is questioned during his fraud trial over the collapse of the bankrupt cryptocurrency exchange, at federal court in New York City today.
Jane Rosenberg/Reuters
Assistant US Attorney Danielle Sassoon’s cross-examination continued after lunch, asking pointed questions about discrepancies between what Bankman-Fried knew as FTX CEO and what he publicly stated to reporters and Congress.
Sassoon rapidly moved between topics, aiming to undermine SBF’s testimony provided under his lawyers’ questioning.
Sassoon: “You were in charge as CEO, right?”
SBF: “I was in charge of some decisions.”
Sassoon: “You consider yourself intelligent?”
SBF: “In many ways, but not all.”
Armed with evidence from past interviews, Sassoon aimed to reveal that FTX’s sister company, Alameda Research, received special treatment not available to other accounts on the FTX platform, which Bankman-Fried concealed from the public.
Bankman-Fried has given vague responses, often claiming to not remember past conversations or statements. Judge Lewis Kaplan has intervened twice, instructing Bankman-Fried to simply answer yes or no without speculating on Sassoon’s intentions.
“Sir, do you recall saying that?” Kaplan asked the defendant.
After a pause, SBF replied: “In reference to certain things and time periods, yes.”
