Former FTX executive explains how the exchange’s terms of service destroys SBF’s defense

'It's evident that he knew what he was doing,' says former FTX Head of Institutional Sales Zane Tackett as he discusses Sam Bankman-Frieds legal trial.

Former FTX CEO Sam Bankman-Fried may attempt to overwhelm the jury with intricate details regarding the operation of his exchange's margin systems, but a former senior employee at the exchange doubts that the facts will support the former billionaire's defense.

Tackett explained, "Sam's going to essentially act as if he lacks understanding, but he'll also try to overwhelm people with technicalities. I believe he'll argue that it was simply a spot margin borrow — FTX clearly allowed for spot margin borrows. Then, he'll delve into the intricacies of how this process worked and how Alameda could borrow because they had substantial collateral, throwing out big numbers like 'we had $100 billion in collateral.

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