Latest Update – Trial of Former FTX CEO Sam Bankman-Fried [Day 3]

THE ancient FTX CEO faces Seven account of conspiracy And fraud. A New York court will decide her destiny.

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Cointelegraph journalists are on THE ground In New York For THE trial of ancient FTX CEO Sat “SBF” Bankman-Fried. As THE saga takes place, check below For THE last updates.

October. 5: Yedidia cross-examination, witness testimonials In to focus

Day 3 of THE #SBF trial, were here bright And early! ☀️ pic.twitter.com/PQ1rQV38Px

— Cointelegraph (@Cointelegraph) October 5, 2023

A responsibility of $8 billion Since Alameda has FTX was has THE center of prosecutors cross-examination of Adam Yedidia on October. 5. Yedidia East A close friend of Sat Bankman-Fried And was A developer has FTX. He was Also A of ten people has live In Bankman-Fried's $35 million luxury seaside resort In THE Bahamas.

According to has Yedidia testimony, Since early 2021, FTX used A Alameda account labeled North Dimension has deposit users' funds while focused towards difficulties opening It is own bank account. Funds would be be considered The Alameda responsibility towards FTX, which reached $8 billion In June 2022.

While Yedidia was aware of THE funds sent has The Alameda account, he doesn't see he as A concern When he First of all heard about he In 2021. However, After learning about THE responsibility Rising In 2022, he voiced her concerns has Bankman-Fried during A tennis game. According to has Yedidia, Bankman-Fried said THE debt should be ruler between THE companies In six month has three years.

Scenes Since out Sat Bankman-Fried's trial location In New York. Source: Ana Paula Pereira/Cointelegraph

"I of confidence Sat, Caroline, And others In Alameda has handle THE situation," he said, answer questions Since prosecutors. On learning that Alameda was not only holding THE funds, but using them has pay It is debtors, Yedidia resigned In Nov...