FTX founder Sam Bankman-Fried once again took the stand in his ongoing criminal trial in New York on Oct. 30, this time to face cross-examination by prosecutors.
Assistant U.S. Attorney Danielle Sassoon began by determining the extent to which Bankman-Fried was involved with FTX’s sister firm, Alameda Research.
Bankman-Fried admitted to owning 90% of Alameda. However, he largely denied that he was involved in Alameda trading in 2022, stating:
“Depends on how you define trading … I would not say I was not involved in any way.”
Bankman-Fried otherwise said that he was “not involved as a general principle” in Alameda’s daily trading but took part in high-level discussions. He said that he provided Caroline Ellison, then the CEO of Alemeda, with some input on trading; specifically, he admitted that he gave Ellison some instructions related to Japanese government bonds.
Another section of the cross-examination largely focused on whether Bankman-Fried had promised to provide c
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