SBF Trial, Day 11: How Alameda Got FTX Into a $9 Billion Hole

On day 11 of the SBF Trial a mix of financial experts and technical witnesses testified, including a notable testimony from accounting professor Peter Easton. His analysis revealed a staggering gap between FTX’s liabilities and assets. However, the day was not without controversy as the judge questioned the relevance of some witnesses. 🔥 EPISODE LINK 🔥 CHECK OUT THE EPISODE LINKS AND DETAILS HERE 👉 👈 The courtroom was abuzz on Wednesday as financial and technical experts took the stand in the ongoing criminal trial against Sam Bankman-Fried. Accounting professor Peter Easton, a standout witness, presented a detailed analysis showing that Alameda had spent customer funds on VC investments, real estate, and political and charitable donations. Easton, who had previously worked on high-profile cases like Enron and Worldcom, said that by the end, the gap between what FTX owed to customers and what it had on hand was $8.8 billion. The defense, led by attorney David Lisner, attempted to challenge Easton’s methods. Lisner questioned the accounting of the fiat@ftx internal account, which tracks customer deposits. Easton admitted to lumping amounts owed to customers from FTX’s bank accounts with what was owed to customers from Alameda’s bank accounts, giving the defense an opportunity to question his accuracy. The day also saw other witnesses, including a former FTX lobbyist and a Google employee, both of whose relevance was questioned by Judge Kaplan. The judge criticized the prosecution for wasting time with witnesses who seemed to offer little to the case. _______________________________________________________ #bitcoin #ethereum #crypto #cryptocurrencies Subscribe to our channel! CHECK OUT THE CRYPTOPIANS → WEBSITE → UNCHAINED DAILY NEWSLETTER → LAURA’S TWITTER → UNCHAINED TWITTER → FACEBOOK → INSTAGRAM → LINKEDIN → MERCHANDISE → NEW EPISODES OF UNCHAINED EVERY TUESDAY AND FRIDAY! THE CHOPPING BLOCK EVERY WEEK! Apple → Spotify → Google Podcast → Stitcher → RSS Feed → YOUR NO-HYPE RESOURCE FOR ALL THINGS CRYPTO!