NEW YORK, Oct 5 — Two visions of Sam Bankman-Fried, the disgraced crypto king, clashed in a New York courtroom on Wednesday in the opening arguments of his blockbuster trial for...
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For the prosecution, the former crypto darling committed “massive fraud” by stealing money from the accounts of customers of his FTX exchange platform and using them for his own account, Rehn added. “Sam didn’t defraud anyone,” countered Mark Cohen, one of the defendant’s lawyers. “There was no theft.”
FTX was a start-up and Bankman Fried had to take “hundreds of decisions a day. As a result, some things got overlooked,” Cohen said.
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