Today, Sam Bankman-Fried’s controversial Twitter direct messages were examined in court, with everything from NBA star Shaquille O’Neal to the crypto mogul’s apparently lax approach to regulation getting a mention. In the messages, Bankman-Fried was observed to have dismissed regulators and made things up. He is now facing seven criminal charges after his behemoth crypto brand FTX last year collapsed. Financial statement analysis and professor of accounting Peter Easton told the court that back in 2021 during the height of the crypto bull run, FTX customers thought their balances were around $20 billion in digital assets when really they stood at $5 billion. Bankman-Fried’s trial is expected to last another four weeks. This is bad news for Bankman-Fried, as it casts doubt on his previous claims of ethical behaviour.
You can read more about this topic here: Decrypt: CZ, Shaq and ‘Unethical Shit’: Twitter DMs Examined in Sam Bankman-Fried Trial