Enlarge (credit: ANGELA WEISS / Contributor | AFP)
On Friday, Sam Bankman-Fried began his first day testifying before a jury with a loss. The FTX co-founder had intended to explain exactly how much he relied on lawyers to steer his decision-making amid the cryptocurrency exchange’s rise and collapse, but US District Judge Lewis Kaplan ruled that particular part of his proposed testimony could not be heard by the jury, The Wall Street Journal reported.
Bankman-Fried had testified on Thursday that his in-house legal team oversaw paperwork for “hundreds of millions of dollars in personal loans to himself and other founders of the platform,” CNBC reported. He told the court that having his legal team’s blessing was something that he “took comfort in.”
“That evidence would in my judgment be confusing and prejudicial,” Kaplan said, dealing what many outlets considered a serious blow to Bankman-Fried’s defense.
Read 12 remaining paragraphs | Comments