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Fallen crypto titan Sam Bankman-Fried has just taken the stand at his criminal fraud trial in Manhattan federal court.

On Thursday, a squirrely SBF tried to squirm his way out of answering questions during a surprise hearing at his Manhattan federal fraud trial — as he claimed his trading firm had been “permitted” to “borrow” the $8 billion in FTX user funds he is charged with stealing.

Bankman-Fried, 31, flailed as prosecutor Danielle Sassoon grilled him on the stand after the judge sent jurors home for the day to go over what evidence would be included in the accused crypto crook’s hotly-anticipated Friday morning testimony.

What to know about SBF’s fraud trial

Feds hint at mysterious 'rebuttal witness' before trial breaks for weekend

By Ben Kochman

Prosecutors hinted Friday that they may call a mysterious "rebuttal" witness after Sam Bankman-Fried leaves the stand.

"We are expecting a brief rebuttal case," a member of the federal prosecution team told Judge Lewis Kaplan after jurors were sent home for the day.

The feds did not identify the witness or explain how they would "rebut" aspects of the accused crypto crook's account.

The trial will resume Monday at 9:30 a.m. with Bankman-Fried still being questioned by his own lawyer.

A withering cross-examination by federal prosecutor Danielle Sassoon is expected to follow later in the day.

SBF says he didn't have the 'time or energy' to keep dating Caroline Ellison — who later flipped on him

By Ben Kochman

Sam Bankman-Fried said Friday that he and ex-girlfriend Caroline Ellison — who testified against him — split up in the spring of 2022 because he didn't give enough effort to their love life.

"I didn't have the time or the energy to put in what I think she wanted from a relationship," Bankman-Fried told jurors shortly after his trial resumed around 1:30 p.m.

"It wasn’t the first time that I had that problem,” Bankman-Fried added without getting into specifics about other past romantic endeavors.

The accused fraudster's claim corroborates Ellison's testimony that she "wanted more" from the relationship.

“I sort of felt like he was distant or not paying attention to me,” Ellison previously told jurors. 

SBF continues matter-of-fact, flat testimony before trial breaks for lunch

By Ben Kochman

Speaking in a nasally measured monotone without showing much emotion, Bankman-Fried continued testifying before the lunch break about various aspects of his bankrupt businesses.

When asked why he founded FTX, Bankman-Fried replied, "We felt that most crypto exchanges were clunky and didn't make a lot of sense." He claimed that on other platforms, "it was a many-step process every time you wanted to do a trade."

It's unclear whether prosecutors will get a crack at the fallen crypto king in cross-examination today or whether cross-examination, expected to be blistering, will be pushed to Monday. The trial will resume at 1:30 p.m. today.

SBF says he knew 'basically nothing' about crypto before starting crypto fund

By Ben Kochman

Bankman-Fried testified Friday that he knew “basically nothing” about cryptocurrency before founding his crypto-focused hedge fund, Alameda Research, in 2017.

“I had absolutely no idea how they worked," he said of crypto dealings while being questioned by his lawyer, Mark Cohen, in Manhattan federal court.

The accused crypto crook said he believes he first learned about crypto after hearing two people excitedly talking about the digital currencies.

"I just knew they were things you could trade,” Bankman-Fried said of cryptocurrencies. 

In this courtroom sketch, Sam Bankman-Fried testifies on the witness stand in Manhattan federal court.
In this courtroom sketch, Sam Bankman-Fried testifies on the witness stand in Manhattan federal court. AP

SBF admits that his bankrupt crypto exchange turned out 'opposite' as hoped

By Ben Kochman

Bankman-Fried admitted Friday that his collapsed crypto exchange turned out to be the "opposite" of what he intended — but claimed its implosion was because of "mistakes" and not crimes.

"We thought we could build the best product on the market," the 31-year-old accused crypto crook said on the stand when asked by his lawyer, Mark Cohen, to explain why he founded FTX.

FTX founder Sam Bankman-Fried is sworn in as he testifies in his fraud trial over the collapse of the bankrupt cryptocurrency exchange.
FTX founder Sam Bankman-Fried is sworn in as he testifies in his fraud trial over the collapse of the bankrupt cryptocurrency exchange. Reuters

Cohen asked him, "Did it turn out that way?"

"No, it turned out basically the opposite of that," Bankman-Fried responded before adding, "People got hurt."

Later, the California crypto mogul tried to distance himself from the computer coding that prosecutors say allowed his hedge fund Alameda to steal around $10 billion of unwitting FTX users' funds.

“I wasn’t much of a programmer. I didn’t write any of FTX’s code," Bankman-Fried said.

The fallen crypto golden boy's ex-business partner and former girlfriend Caroline Ellison has testified that Bankman-Fried directed the company's engineering chief, Nishad Singh, to write the code allowing Alameda to pilfer the funds.

SBF struggles to explain his defense in dry run of testimony — claims 'I don't recall' a dozen times

By Ben Kochman

A squirrely Sam Bankman-Fried tried to squirm his way out of answering questions during a surprise hearing at his Manhattan federal fraud trial Thursday — as he claimed his trading firm had been “permitted” to “borrow” the $8 billion in FTX user funds he is charged with stealing.

Bankman-Fried, 31, flailed as prosecutor Danielle Sassoon grilled him on the stand after the judge sent jurors home for the day to go over what evidence would be included in the accused crypto crook’s hotly anticipated Friday morning testimony.

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'I did not' defraud anyone, Sam Bankman-Fried claims on stand at criminal trial

By Ben Kochman

Fallen crypto titan Sam Bankman-Fried has just taken the stand at his criminal fraud trial in Manhattan federal court.

"Did you defraud anyone?" the ex-billionaire's lawyer, Mark Cohen, asked him shortly after he entered the witness box around 9:55 a.m. Friday.

"No, I did not," responded Bankman-Fried, who is wearing a gray suit and purple tie.

Bankman-Fried admitted, "Yes, I made a number of small mistakes and a number of big mistakes" while running his collapsed cryptocurrency exchange FTX. But he denied "taking" customer funds.

Prosecutors have laid out a case that the fallen crypto ace stole more than $8 billion from FTX users to prop up his failing hedge fund Alameda Research and fund lavish real estate purchases and political donations.

SBF's parents arrive at Manhattan court to watch son potentially testify for second day

By Post Staff
AFP via Getty Images

The parents of former crypto golden boy Sam Bankman-Fried arrive in Manhattan federal court Friday to watch their son potentially testify in his fraud case.

Bankman-Fried, 31, is accused of swiping $8 billion in FTX user funds to splurge on such goodies as millions of dollars in luxury Bahama real estate.

Sam Bankman-Fried's highly anticipated testimony set for Friday morning

By Ben Kochman

Court wrapped for the day around 5 p.m. after prosecutors questioned Bankman-Fried on the stand -- but without jurors present.

All parties will be back Friday morning for Bankman-Fried's highly anticipated testimony before a jury.

Judge reprimands Sam Bankman-Fried: 'Listen... and answer the question'

By Ben Kochman

Bankman-Fried was just reprimanded by the judge for giving long-winded answers as prosecutors grill him on the stand.

"Listen to the question, and answer the question," Manhattan federal court Judge Lewis Kaplan told the accused crypto crook.

Prosecutor Danielle Sassoon has been asking Bankman-Fried various questions about his company's business practices.

SBF claims he thought 'borrowing' of FTX user funds was allowed under company's terms of service

By Ben Kochman

Bankman-Fried is now being grilled by prosecutors, still without a jury, after his defense wrapped up their questioning.

The fallen crypto golden boy gave the court a peek at his defense while being questioned by his lawyer, Mark Cohen, saying he believed that his crypto trading firm Alameda Research's "borrowing" of FTX user funds was permitted by the company's terms of service.

"Did you believe that Alameda borrowing money was permitted under the company's terms of service in the Bahamas?" Cohen asked him.

"Yes, in many circumstances," he responded.

"Did you believe that you were managing FTX in according with its terms of service?" Cohen later asked.

"Yes," Bankman-Fried answered.

Sam Bankman-Fried takes the stand — but without jury present

By Ben Kochman

Fallen crypto king Sam Bankman-Fried has just taken the stand at his fraud trial in Manhattan federal court — but jurors were sent home for the day so the judge can decide what evidence they will be allowed to hear.

Bankman-Fried, 31, was called to the stand shortly after the trial resumed at 2 p.m. following a lunch break.

But it turned out to be an anti-climactic moment as Judge Lewis Kaplan dismissed the jury and is holding a hearing to see what parts of Bankman-Fried's testimony will be admissible.

Wearing a slightly oversize gray suit and a purple tie, with a bottle of Poland Spring water next to him on the stand, Bankman-Fried is answering questions about details of his businesses and tech.

He's expected to begin his defense testimony in earnest Friday morning.

Bankman-Fried has pleaded not guilty to charges he stole billions in customer funds at his crypto exchange FTX to prop up his hedge fund Alameda.

Jurors heard earlier this month from three of his former FTX associates — including his ex-girlfriend Caroline Ellison — who have flipped on him after pleading guilty and cooperating with the feds.

Ellison testified that Bankman-Fried bears the blame for deciding to steal the funds.

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