{"id":170940,"date":"2023-10-09T19:50:57","date_gmt":"2023-10-09T14:20:57","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=170940"},"modified":"2023-10-09T19:50:57","modified_gmt":"2023-10-09T14:20:57","slug":"what-to-expect-in-the-second-week-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/what-to-expect-in-the-second-week-crypto-news\/","title":{"rendered":"What to expect in the second week – Crypto News"},"content":{"rendered":"
\n

The second week of the Sam \u201cSBF\u201d Bankman-Fried FTX fraud trial will commence its hearings again on Monday, Oct. 9, with one of the main focal points anticipated to be testimony from Caroline Ellison.<\/p>\n

Ellison, the former romantic partner of SBF\u2019s and CEO of FTX-tied Alameda Research, is set to testify this upcoming week, possibly as soon as Tuesday. She was a part of Bankman-Fried\u2019s inner circle and is expected to know details regarding the movement of customer funds between the two companies.<\/p>\n

In her testimony, she is expected to highlight a November 2022 meeting with employees of Alameda when she admitted to using customer funds to repay creditors, which was given the green light by Bankman-Fried.<\/p>\n

In December 2022, Ellison and former FTX executive Gary Wang both pleaded guilty<\/a> for their respective roles in the alleged fraud that led up to the collapse of FTX. <\/p>\n

Wang testified in the FTX fraud trial<\/a> on Oct. 5, saying that, with the help of SBF: \u201cWe allowed Alameda to withdraw unlimited funds.\u201d\u00a0<\/p>\n

He added that Bankman-Fried did all the work on the front end \u2014 media, lobbying and investor relations \u2014 while Wang did the coding. \u201cIn the end, it was Sam\u2019s decision to make [regarding any disagreements].\u201d<\/p>\n

Related: <\/em><\/strong>Sam Bankman-Fried\u2019s jets are subject to forfeiture, says prosecution<\/em><\/strong><\/a><\/p>\n

Bankman-Fried has been charged with seven counts of conspiracy and fraud related to the fall of FTX, to all of which he has pleaded not guilty. Judge Lewis Kaplan is overseeing the case.<\/p>\n

The\u00a0first week of the trial<\/a>, which began on Oct. 3, focused on the disappearance of $8 billion of FTX customer funds. In addition to testimony from Wang, the first week saw both the prosecution and the defense state their arguments, as well as testimony from Adam Yedidia on Oct. 5.<\/p>\n

Yedidia is named as a close friend of Bankman-Fried and was also a developer at FTX.<\/p>\n

Cointelegraph reporters are on the ground in New York for the trial of former FTX CEO Sam \u201cSBF\u201d Bankman-Fried. As the saga unfolds, check here for the latest updates<\/a>.<\/p>\n

Magazine: <\/em><\/strong>SBF trial underway, Mashinsky trial set, Binance\u2019s market share shrinks: Hodler\u2019s Digest, Oct. 1\u20137<\/em><\/strong><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The second week of the Sam \u201cSBF\u201d Bankman-Fried FTX fraud trial will commence its hearings again on Monday, Oct. 9, with one of the main focal points anticipated to be testimony from Caroline Ellison. Ellison, the former romantic partner of SBF\u2019s and CEO of FTX-tied Alameda Research, is set to testify this upcoming week, possibly […]<\/p>\n","protected":false},"author":2,"featured_media":170941,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-170940","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/170940","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=170940"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/170940\/revisions"}],"predecessor-version":[{"id":170943,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/170940\/revisions\/170943"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/170941"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=170940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=170940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=170940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}