Federal prosecutors questioned Sam Bankman-Fried in an ongoing hearing on Wednesday about his message deletion practices and the alleged use of customer funds while he was CEO of now-bankrupt crypto exchange FTX.
FTX Founder Faces Intensive Cross-Examination by Prosecutors in Ongoing Trial
Prosecutors focused on Sam Bankman-Fried‘s use of the encrypted messaging app Signal, including his enabling of auto-delete features in 2021. Bankman-Fried said he did not seek specific legal approval for auto-deleting messages, but believed it was allowed under FTX’s document retention policy implemented that year. Bankman-Fried’s testimony was recorded by Matthew Russell Lee from the Inner City Press.
When asked if he should have preserved messages with former Alameda CEO Caroline Ellison containing financial spreadsheets, Bankman-Fried replied “Yes. For example, verbal discussions were not required to be reported.” Prosecutors also questioned if Bankman-Fried violated the policy by delet
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