SBF trial day 9: FTX’s founder spent $1.3b on celebrity endorsements
Nishad Singh, former Alameda and FTX chief developer testified to $1.3 billion of customer funds invested in building Sam Bankman-Fried’s social capital and public image. Federal prosecutors moved to examine the final few government witnesses in United States v Sam Bankman-Fried, commonly known as SBF, on Oct. 16 following testimonies from key individuals like Caroline Ellison and Gary Wang, both of whom were part of SBF’s inner circle. The first two weeks of Bankman-Fried’s criminal trial for alleged fraud have been marked by testimony from former employees who claim that Bankman-Fried was the driving force behind the misuse of FTX customer funds and misleading investors. Witnesses have also told the court that Bankman-Fried spent millions of dollars to create a false public image and was involved in bribing Chinese officials. Defense attorneys filed a request for midday Adderall prior to trial day nine, crypto.news reported. Bankman-Fried’s lawyers argued that the FT...