Though he was initially granted a $250 million personal recognizance bond and allowed to live with his parents in Palo Alto, California, the bond was revoked in August and he was jailed when Kaplan…
In this courtroom sketch, FTX founder Sam Bankman-Fried testifies while Judge Lewis Kaplan, left, stands, in Manhattan federal court, Friday, Oct. 27, 2023, in New York.
“It turned out basically the opposite of that,” and a lot of customers and others got hurt, Bankman-Fried said. The California entrepreneur has pleaded not guilty to conspiracy charges accusing him of diverting billions of dollars from his clients and investors to make risky investments, buy luxury housing, engage in a star-studded publicity campaign, and make large political and charitable donations.
He said he testified three times before Congress in an effort to persuade legislators to create cryptocurrency regulations that would allow products to be marketed directly to Americans. When the jury was shown a photograph of Bankman-Fried with a deck of cards, he explained that he used them to satisfy his urge to “compulsively fidget with things” — a habit from his college years that grew so severe that he said he’d wear out a deck in a week. He has since switched to fidget spinners.
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