Get da Scoops on Top FTX Crypto Exchange Boss Sam Bankman-Fried 🤙💰🏝️

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Sam Bankman-Fried Kine Trial Start: ‘He Lied To Da World’ or ‘Acted In Good Faith’? 🤔 Federal prosecutors wen start da criminal trial of Sam Bankman-Fried, da founder of dat bus’ up cryptocurrency exchange FTX, on Wednesday. Dey message?

He wen lie to da world, leading to one big kine financial frauds for dis generation. 😲 But Sam’s lawyer get different story fo tell. He say his client was just one good-intention entrepreneur who been trying fo make his company successful an neva mean fo rip off anybody.

Da two sides stay beefing ova dis at Sam’s trial wea he stay in hot water since Elizabeth Holmes from Theranos got busted last year for fraud. One time before, Mr. Bankman-Fried was considered as this young gunna in crypto and became billionaire quick fast but then saw his company go down and all that money disappear like smoke 💨💸 Prosecutors charge him with planning a conspiracy using $10 billion that FTX’s customers had given him trustingly for personal stuffs like venture capital investments, political donations and buying fancy houses 🏦🗳️🏰 Thane Rehn the lead prosecutor said “It looked like Sam Bankman-Fried was on top of the world,” but added “All of it was built on lies.” His lawyer Mark Cohen hit back saying it’s not a crime to run a business in good faith even if you end up going through rough times.

He called the prosecution’s portrayal as painting him out to be some kind cartoon villain which is far from reality 👺❌ Mr.Bankamn Fried has spent seven weeks already inside jail ⛓️⚖️ At court he came looking sharp with hair cut by another prisoner wearing suit & tie while watching everything flanked by his other lawyers. His parents, the Stanford law professors Joseph Bankman and Barbara Fried, sat few rows behind him. His trial has become a big deal not only for the downfall of FTX but also as an example of how reckless behavior in cryptocurrency industry can lead to trouble.

When FTX went down last year in November, Mr.

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FTX Crypto Exchange Founder Sam Bankman-Fried Profile

The trial of Sam Bankman-Fried, founder of the beleaguered cryptocurrency exchange FTX, has begun: ‘Did he deceive the world’ or ‘Act in good faith’? 🤔 Federal prosecutors initiated the criminal proceedings against Bankman-Fried on Wednesday.

Their claim?He deceived everyone, resulting in one of this generation’s most significant financial frauds. 😲 However, Sam’s attorney tells a different tale.

He argues that his client was merely an honest entrepreneur striving to make his company successful and had no intention to defraud anyone.This is now a point of contention at Sam’s trial where he has been under scrutiny since Elizabeth Holmes from Theranos was charged with fraud last year. Previously seen as an up-and-coming star in crypto who quickly amassed billions only for his company to collapse and all that wealth vanish like smoke 💨💸 Prosecutors accuse him planning a conspiracy using $10 billion entrusted by FTX’s customers for personal expenses such as venture capital investments, political contributions and buying luxury homes 🏦🗳️🏰 Lead prosecutor Thane Rehn stated “It seemed like Sam Bankman-Fried was on top of everything,” but added “All it rested upon were lies.” His lawyer Mark Cohen countered saying it’s not illegal to operate a business with good intentions even if you encounter hard times.Cohen criticized prosecution efforts depicting him akin some sort cartoon villain which is far from truth 👺❌ Mr.Bankamn Fried has already spent seven weeks behind bars ⛓️⚖️ In court he appeared well-groomed having had hair cut by another inmate while dressed smartly & flanked by other attorneys watching every move closely .

His parents Joseph Bankman and Barbara Fried , both Stanford law professors sat few rows behind him . This case holds great significance not just due its impact on FTX but also as a cautionary tale of how reckless actions in the cryptocurrency sector can lead to trouble.