SBF Trial, Day 3: Why a True Believer in FTX Flipped Once He Learned One Fact

Published: Oct. 6, 2023, 2 a.m.

b'Laura reports on the testimony of three witnesses on Thursday, including one who declared that \\u201cFTX defrauded all of its customers\\u201d and another stating that he had committed financial crimes at the direction of Sam Bankman-Fried.\\n\\xa0\\nFormer FTX software developer Adam Yedidia, Paradigm co-founder Matt Huang, and FTX and Alameda co-founder Gary Wang filled in the details of different aspects of FTX and Alameda\\u2019s business. Huang\\u2019s testimony detailed how Paradigm expressed concern about FTX\\u2019s lack of corporate controls and how the company was \\u201cowned and controlled by Sam.\\u201d Wang has only started his testimony but has already said he implemented advantages for Alameda into FTX\\u2019s code at Bankman-Fried\\u2019s direction.\\xa0\\n\\nYedidia\\u2019s account had the most emotional details, describing how he had a strong belief in the company, to the point where, when employees began leaving FTX, he had messaged Bankman-Fried that he loved him and wasn\\u2019t going anywhere, but that it flipped once he realized \\u201cFTX defrauded all of its customers.\\u201d Find out what new information caused him to have a change of heart in this episode.\\xa0\\n\\nIf you need to catch up, don\\u2019t miss our recent coverage on the trial:\\n\\nSBF Trial, Day 2: DOJ: Sam Bankman-Fried \\u2018Lied\\u2019 His Way to \\u2018Wealth, Power, and Influence\\u2019\\n\\nSBF Trial, Day 2: DOJ Says Sam Bankman-Fried \\u2018Lied\\u2019 While Defense Claims His Actions Were \\u2018Reasonable\\u2019\\n\\nSBF Trial, Day 1: Possible Witnesses Include FTX Insiders, Big Names in Crypto, and SBF\\u2019s Family\\n\\nHere\\u2019s How Sam Bankman-Fried\\u2019s High-Stakes Trial Could Play Out\\n\\nSBF Trial: How Sam Bankman-Fried\\u2019s Lawyers Might Try and Win His Case\\n\\nThe High-Stakes Trial of Sam Bankman-Fried Begins: What to Expect\\n\\nIn the SBF Case, Elite Corruption Is What\\u2019s Really on Trial\\n\\n\\nLearn more about your ad choices. Visit megaphone.fm/adchoices'