SBF Trial, Day 8: Former BlockFi CEO Adds Credibility to Fraud Charges

Published: Oct. 13, 2023, 11 p.m.

b"On the eighth day of the SBF trial, former BlockFi CEO Zac Prince took the stand, serving as a strong witness for the defense, while offering a detailed look into how Alameda Research's borrowing from FTX differed from traditional crypto lending, and the impact of FTX\\u2019s and Alameda\\u2019s collapse on BlockFi, which subsequently filed for bankruptcy.\\nThe defense team tried to pin BlockFi\\u2019s loans to Alameda on BlockFi executives ignoring advice from its own credit team, but Prince twice corrected defense attorney Mark Cohen that, for the document in question, the executives did follow the advice of their credit team. The defense also tried to raise the notion that BlockFi would have declared bankruptcy no matter what had happened with FTX and Alameda, but Prince also held his ground that the collapse of SBF\\u2019s empire resulted in BlockFi\\u2019s own bankruptcy.\\n\\nCatch up on Unchained\\u2019s previous coverage:\\xa0\\n\\nSam Bankman-Fried Trial: Here\\u2019s Everything That Happened So Far\\n\\nSBF Trial, Day 1: Possible Witnesses Include FTX Insiders, Big Names in Crypto, and SBF\\u2019s Family\\n\\nSBF Trial, Day 2: DOJ Says Sam Bankman-Fried \\u2018Lied\\u2019 While Defense Claims His Actions Were \\u2018Reasonable\\u2019\\n\\nSBF Trial, Day 3: Why a True Believer in FTX Flipped Once He Learned One Fact\\n\\nSBF Trial, Day 4: SBF\\u2019s Lawyers Annoy Judge Kaplan, While Wang Reveals Alameda\\u2019s Special Privileges\\n\\nSBF Trial, Day 5: SBF's Defense Finally Found Its Legs, But Can It Counter Caroline Ellison?\\n\\nSBF Trial, Day 6: Caroline Ellison Recalls 'The Worst Week of My Life'\\n\\nDid Sam Bankman-Fried Have Intent to Defraud FTX Investors?\\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"