Inside the trial: Prosecution scores more points on last day of SBF's testimony

The prosecution has been able to poke holes in Bankman-Fried’s line of defense that he did not understand how bad things were at FTX.

Sam Bankman-Fried, the former CEO of the bankrupt crypto exchange FTX, finished testimony at his criminal trial on Tuesday, as both sides prepare for closing arguments scheduled to start tomorrow.

Bankman-Fried, in turn, testified on Monday that even though he was told about the so-called "fiat@" account at Alameda, he did not have context necessary to understand its significance. Only in October 2022 does he maintain that he discovered what was going on. Then the prosecutor asked whether on Nov. 6, when he claimed to be convinced about Alameda's solvency, he knew the FTT tokens on the firm's balance were not, in fact, liquid. "Liquid is not a binary term," Bankman-Fried responded in a vague manner, typical of his style throughout the trial.

In the meantime, cash Alameda had in banks in October 2022 totaled at no more than $449 million, according to the same spreadsheet.

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