Hacker News

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Facing cross-examination at his criminal fraud trial yesterday, Sam Bankman-Fried repeatedly testified that he doesn't remember details about what he did and said while running cryptocurrency exchange FTX.

Sassoon "grilled Mr. Bankman-Fried about the inconsistencies between his public statements and how he ran his crypto empire before it collapsed spectacularly in November," a New York Times article said.

But Sassoon "presented jurors with a mountain of tweets, emails, and podcast clips revealing that the MIT grad did in fact say dozens of things he claimed not to have recalled," the article said.

"After much pressing, Bankman-Fried eventually confirmed one aspect of prosecutors' sprawling fraud and conspiracy case—that his hedge fund Alameda, in an unheard-of arrangement, could pull out billions of dollars it did not own from FTX using a near-unlimited line of credit," the New York Post wrote.

Under cross-examination yesterday, Bankman-Fried said he didn't remember statements he made publicly about the ties between FTX and Alameda, a Wall Street Journal article said:

Sassoon pressed Bankman-Fried on the relationship between the two entities, including what prosecutors allege were Alameda's secret and unique privileges to borrow virtually unlimited sums from FTX.

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