The fall of FTX to the closing days of Sam Bankman-Fried’s criminal trial moved at breakneck speed, as my colleague Martin Peers wrote on Tuesday. Exactly a year ago on Wednesday, the public still did not know the details of the leaked Alameda Research balance sheet that kick-started FTX’s demise.
The trial moved at a brisk pace too. Just four weeks ago, prosecutors labored over the basics of crypto, blockchain and leverage to lay the groundwork for testimony at the heart of the government’s arguments to convict Bankman-Fried. That foundation would help jurors understand the special trading privileges used by Bankman-Fried’s trading firm Alameda, how “Sam coins” like FTT were used as collateral and the importance of the misleading financial statements seen by Alameda and FTX lenders and investors.
0 Commentaires