SBF Trial, Day 16: In Final Cross Examination, SBF Gets Caught Again by His Own Words

Prosecutors again pounded away at SBF’s credibility with the former FTX CEO at one point claiming he didn’t look into why Alameda had spent $8 billion of FTX customer funds.
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For a second, consecutive day, prosecutors pounded away at Sam Bankman-Fried’s credibility, asking the former FTX CEO to explain his obliviousness about how Alameda had spent $8 billion of FTX customer funds.
Prosecutors and the defense both rested their cases on Day 16 of the high-profile trial. Both sides will make their closing arguments on Wednesday and jurors could begin deliberating the following day.
While Bankman-Fried claimed that he thought “it was permissible” for Alameda to use FTX customers’ fiat deposits, he also admitted that he didn’t tell his employees not to spend that money or create measures to segregate FTX customer funds from Alameda’s.
Prosecutor Danielle Sassoon also grilled him on why he didn’t look into who had spent the FTX customer money. “So it’s your testimony that while you were CEO of Alameda some unknown people spent $8 billion without your knowledge?” prosecutor Danielle Sassoon asked Bankman-Fried, who replied that he didn’t agree that was his testimony.
Bankman-Fried later said that he had asked former Alameda CEO Caroline Ellison to explain the $8 billion in spending but did not fire anyone. Under subsequent defense questioning, Bankman-Fried said that he had wanted to look ahead.
Earlier in the day, Sassoon had honed in on Bankman-Fried’s allegedly close relationship with government officials in the Bahamas, and presented an email in which he said that the company had “segregated funds for all Bahamian customers on FTX and that it would be “more than happy to open up withdrawals for all Bahamian customers on FTX.” The communication came Nov. 9, 2022, a few days after FTX had halted customer withdrawals as awareness of its financial problems grew.
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Пікірлер: 76

  • @CaryInVictoria
    @CaryInVictoria8 ай бұрын

    Did you see Bloomberg's interview of Anthony Scaramucci that appeared on YT earlier today? The first topic was the SMB trial. Almost the first words out of his mouth (at 0:50) were, "One of the journalist said 'They murdered him at the beginning [of the cross] and then they stabbed the dead body after lunch'". You are that journalist, but your wording was better (in your Oct. 30 YT video, "SBF Trial, From the Courthouse: SBF's Testimony Under Fire, Contradictions Unearthed").

  • @mikemason964
    @mikemason9648 ай бұрын

    Laura Shin should license her voice to Microsoft for Cortana voice acting.

  • @roc7880
    @roc78808 ай бұрын

    had he kept quiet after the collapse and not do a media tour, hus lawyers could have saved him. at least for some charges.

  • @hunterfalck235

    @hunterfalck235

    8 ай бұрын

    Of course you don't care about what he stole you just want him to get away with it

  • @loveanarchy8488
    @loveanarchy84888 ай бұрын

    Scammy Sammy is not a genius. He took people's money, and spent it. Plain and simple.

  • @TheNaturalust

    @TheNaturalust

    22 күн бұрын

    Yeah it was an extremely simple case of fraud and embezzlement in the end!

  • @jsg782
    @jsg7828 ай бұрын

    May the judge add a year for every disrespectful “Yup” in federal court.

  • @traffordsec4322
    @traffordsec43228 ай бұрын

    SBF seems to really believe he's the smartest in the room, but Sassoon has shown he is more like Lloyd from the movie Dumb and Dumber. Instead of spending the briefcase of money and replacing with IOUs, he spent customer funds and replaced with FTTs.

  • @metaldreams3595

    @metaldreams3595

    8 ай бұрын

    Vidal Sassoon?

  • @Zel-from-Ashdod
    @Zel-from-Ashdod8 ай бұрын

    If there's one thing we've learned, it's this: life is not in any way like a box of chocolates. And vegans are not necessarily altruistic. Nor thin.

  • @Bread_Garlichouse

    @Bread_Garlichouse

    8 ай бұрын

    They are drunk on their own sense of moral superiority and self righteousness.

  • @lukejones7366
    @lukejones73668 ай бұрын

    Amazing coverage! So great for you to do this work & share it

  • @is_5013
    @is_50138 ай бұрын

    Excellent video, I love that you report on the trial instead sharing your own impressions or opinion!

  • @Melissa-he3lo
    @Melissa-he3lo8 ай бұрын

    Thank you so much for your superb coverage!

  • @michaelrush6083
    @michaelrush60838 ай бұрын

    Fabulous as per usual thanks

  • @garytennant210
    @garytennant2108 ай бұрын

    Appreciate your summaries. Hope it has been fun for you.

  • @joejrgutierrez9985
    @joejrgutierrez99858 ай бұрын

    Great reporting!!😊

  • @jsg782
    @jsg7828 ай бұрын

    I’m going to miss this trial and your coverage.

  • @smillal
    @smillal8 ай бұрын

    Best reporting on the SFB trial out there! Thank you very much!

  • @js3098
    @js30988 ай бұрын

    Thank you for your excellent coverage Laura. And I look forward to hearing more of Sam Enzer’s insights on this trial!

  • @carlosrayortiz
    @carlosrayortiz8 ай бұрын

    You have been killing it, Laura!

  • @johnpick8336
    @johnpick83368 ай бұрын

    Thank you Laura. Bet you can't wait to go home for a well esrned rest ?

  • @metaldreams3595

    @metaldreams3595

    8 ай бұрын

    Some much needed shut-eye.

  • @fredascher9412
    @fredascher94128 ай бұрын

    You're my favorite reporter!

  • @SunnyM360
    @SunnyM3608 ай бұрын

    Can someone please explain what was said during the redirect?

  • @rockprime1136
    @rockprime11368 ай бұрын

    Hahaha. SBF is really trying to claim he was not in charge. That employees were spending billions of dollars without his knowledge. That he tried to pay the Bahamas national debt.

  • @jsg782

    @jsg782

    8 ай бұрын

    And NO ONE was fired for spending $8 billion. That was genius.

  • @DavesGuitarPlanet
    @DavesGuitarPlanet8 ай бұрын

    Great report

  • @unclesloppy5388
    @unclesloppy53888 ай бұрын

    I think the jury will come back quickly with a guilty verdict

  • @emceha
    @emceha8 ай бұрын

    What do you say about adding small profiles of the judge and most important team members forom prosecution and defence? Literally just two or three sentences each from official profiles, it would be nice to have some background on them

  • @emceha

    @emceha

    8 ай бұрын

    Obviously I’m most interested in the “Vise” Sasoon

  • @mostlyindica
    @mostlyindica8 ай бұрын

    Merci Laura.

  • @user-wk6mb7mw3g
    @user-wk6mb7mw3g8 ай бұрын

    Who wrote the document?

  • @thisisanaussiegal3590
    @thisisanaussiegal35908 ай бұрын

    WHat did Sam say in response to Sassoon's question that he let his "supervisees" tell him to stop asking questions? Thanks heaps for your coverage!

  • @jsg782
    @jsg7828 ай бұрын

    So many memes from his testimony. “Something like dinner”.

  • @danibravo5700
    @danibravo57008 ай бұрын

    I dont get it. The entire defense was based on sbf testifying?

  • @LauraShin

    @LauraShin

    8 ай бұрын

    There were two other witnesses - a lawyer for SBF and as financial consultant - but the government rendered their testimony moot. The lawyer had been hired after everything went down (Nov 12, the day after the bankruptcy), and the financial person only looked at the FTX database, not at actual money in the bank accounts or crypto assets in FTX wallets on the blockchain.

  • @danibravo5700

    @danibravo5700

    8 ай бұрын

    @LauraShin thank you Laura! I appreciate the work you do! ❤️

  • @jeremyhenry9063
    @jeremyhenry90638 ай бұрын

    He has come undone. It’s definitely all wrapped up.

  • @PeterControl
    @PeterControl8 ай бұрын

    cant wait for the sentencing

  • @kwutopia10
    @kwutopia108 ай бұрын

    How the jury/judge makes an example of him by giving him jail/restitution and his parents as well. Hope his co-cospritators get time in jail as well as restitution. Make a statement that this isn't acceptable !

  • @christinaradwell6587
    @christinaradwell65878 ай бұрын

    This guy better be convicted. That was a plan and he executed the plan. An Employee robbing the bank !

  • @Jumanjihum
    @Jumanjihum8 ай бұрын

    Perhaps, those who received help from Sam in the past, such as organizations, actors, celebrities, and politicians, should consider giving back to the real victims who have lost money and hope in this situation. It's important to calculate how much they received and how much is currently missing. 🧐

  • @stevengreidinger8295
    @stevengreidinger82958 ай бұрын

    Thanks for sharing. None of this would've happened if Caroline and the other stooges had done their jobs correctly. SBF should accept some blame and guilt, but he is not a Mafia Don-type leader with a deliberate plan to bankrupt all these customer accounts and take the money himself. He was over his head, hired the wrong people, and did not put safeguards against commingling funds. In this testimony, he does appear to be offering a questionable quid-pro-quo to Bahamian leaders. The lesson: If you're doing business in a foreign country, offer officials help setting up a medical clinic, not help setting up themselves.

  • @hunterfalck235

    @hunterfalck235

    8 ай бұрын

    As a day trader an investor with very little formal Financial education....i can say there is no way SBF could have not known what he was doing. Everybody's a genius when the market is doing well. He was an "end justifies the means" self-glorifying individual who contributed nothing to the crypto space except mistrust.

  • @nunyabizness573

    @nunyabizness573

    8 ай бұрын

    Are you aware of the two whistle blowers who got fired and were then offered to settle for hush money? This was a corrupt company.

  • @12345fowler

    @12345fowler

    8 ай бұрын

    My take on that is he got "high" from all the cash pouring in (from customer) and off course the first thing you think of is "it would be nice I can use that cash and make it work" SBF never worked in any regular bank so he just assumes all this money was up for him to do what he pleases him. Just your run-of-the-mill trader psychotic mindset, where millions are just on paper and everything is just virtual. @@hunterfalck235

  • @TheNaturalust
    @TheNaturalust22 күн бұрын

    Both Caroline Ellison and SBF’s parents should all be in prison!!

  • @jsg782
    @jsg7828 ай бұрын

    $8 billion of other people’s money is not his priority.

  • @Liltheo626
    @Liltheo6268 ай бұрын

    I just found out this alameda zone is right near me in Los Angeles figures why stranger jealous crypto students where bothering when I did my DeFi wallet stuff correct alone and made my defi wallets accrue market value😊😊😊😊

  • @Liltheo626

    @Liltheo626

    8 ай бұрын

    Online and off line😊😊❤❤❤❤

  • @bjrnerikholster1058
    @bjrnerikholster10588 ай бұрын

    Bamboozling people of BILLIONS of USD demands a retribution. Uhm, I mean justice.

  • @msohlvi
    @msohlvi8 ай бұрын

    this has to be AI laura, so different from her in between sessions lol

  • @Liltheo626
    @Liltheo6268 ай бұрын

    I even pressed the clear transactions on my own coinbase wallet transaction section hahahahah. And I just heard they allowed negative huh he an them basically allowed to accept all of the gas fee from all of customers accounts so he double the 💰 that would have charged alameda fix whatever into a you now owe all that money since you touch the money that wasn’t yours.😂😂😂😂

  • @nunyabizness573
    @nunyabizness5738 ай бұрын

    One major goal of SBF was wiping out Binance, and he cheated by using customer funds to accomplish his goals. Also, all his answers of "I don't remember" etc. do not seem honest at all. In fact it comes across as stupidly dishonest.

  • @ordinaryman2299
    @ordinaryman22998 ай бұрын

    the bankman freid's are the ugly ducking of cypto or just in general ???

  • @justkaz7104
    @justkaz71048 ай бұрын

    285

  • @vincentorlando6767
    @vincentorlando67678 ай бұрын

    Laura, everyone, Its possible SBF could plead guilty, cut a deal for reduced sentencing with prosecutors before jury makes a decision. SBF can also do this after jury decision, file an appeals for a second trial. SBF has additional information on Dan Friedberg, Trabucco, and possibly others, along with offshore accounts where many of his co-conspirators stashed funds for themselves. SBF would have to come completely clean, flip on others, etc. The justice system is setup to permit this if it helps recover stolen customer funds, get's to other guilty parties. Will SBF do this or not?? Jail has been rought for him. A gang member with the bloods tried to extort money out of him while in jail.

  • @jsg782

    @jsg782

    8 ай бұрын

    The DOJ didn’t offer him a deal. They want to hold someone accountable and he’s the one.

  • @vincentorlando6767

    @vincentorlando6767

    8 ай бұрын

    @@jsg782 Well, this may be true but SBF could offer to plead guilty for a reduced sentence, etc. In these criminal cases, a not guilty plea could be converted to guilty

  • @jsg782

    @jsg782

    8 ай бұрын

    @@vincentorlando6767he cannot plead guilty at this point. Once there’s a jury his options are over.

  • @jsg782

    @jsg782

    8 ай бұрын

    It’s too late for SBJ to flip. The DOJ wants SBF. He made the error of being the very public face of the enterprise. The others cooperated from the start. Someone must be shown culpable for the missing billions. SBF duped many powerful people. It this trial doesn’t end with a guilty verdict, the DOJ will begin another case against him until he is found guilty. The amount of money embezzled is too large for the DOJ to allow to go unpunished.

  • @vincentorlando6767

    @vincentorlando6767

    8 ай бұрын

    @@jsg782 I've seen this done in other criminal cases, why would this be any different, please explain?

  • @Clitp00p
    @Clitp00p8 ай бұрын

    HiYa!!!

  • @Clitp00p
    @Clitp00p8 ай бұрын

    Who wants to see her say hiya at the beginning and end of videos?