NEW YORK, Oct 18 — FTX founder Sam Bankman-Fried’s lawyer yesterday said the now-bankrupt cryptocurrency exchange’s investments were not “reckless and frivolous,” pushing...
Bukit Aman: Cops arrest local airline co-founder with title of ‘Datuk’, wife and son to help in probe under AMLA
“I understood it had business benefits and costs,” Nishad said in testimony that defence lawyers could use to argue that Bankman-Fried was making what he believed to be good-faith business decisions in shelling out funds for marketing and investments even if others disagreed. “Yesterday we were told these were all reckless and frivolous investments, and I’m entitled to show that there was way more to it than we were told yesterday,” Cohen said, after a prosecutor objected to his questioning about K5.
Jurors have already heard from Gary Wang, FTX’s former chief technology officer, and Caroline Ellison, Alameda’s onetime chief executive officer and Bankman-Fried’s former girlfriend.
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