Unearthing Sam Bankman-Fried’s Twitter DMs in Court
In the ongoing trial of Sam Bankman-Fried, his contentious Twitter direct messages took center stage. From interactions with NBA legend Shaquille O’Neal to his regulatory stance, the courtroom discussion covered a wide spectrum.
Questioning Regulators and ‘Unethical Shit’
A message unveiled in court quoted, “Fuck regulators,” expressing a critical sentiment towards regulatory bodies. This message added, “They make everything worse.”
Another series of Twitter DMs featured Bankman-Fried acknowledging he had uttered “dumb shit” in a conversation with a Vox media outlet reporter.
The ‘Ethical’ Dilemma
The courtroom examined a thread where Bankman-Fried was probed about his prior statement on avoiding “unethical shit” in the crypto industry. His response, a nonchalant “heh,” suggested a disconnect between his words and beliefs.
CZ and Ethical Considerations
Bankman-Fried’s messages also delved into the ethics of Binance CEO Changpeng Zhao, commonly known as CZ. In one exchange, he questioned CZ’s transformation from someone who used to emphasize ethics in the crypto sector to becoming a “hero.” He pondered whether CZ’s virtue or his financial strength contributed to this shift.
Facing Criminal Charges
Sam Bankman-Fried, the former CEO and co-founder of FTX, is confronting seven criminal charges following the collapse of his crypto brand FTX last year. While he had previously touted his ethical approach, the DMs revealed his dismissive attitude toward regulators and tendency to make things up.
The Mention of NBA Star Shaq
The courtroom also brought up former NBA star Shaquille O’Neal, as FTX had reportedly paid him nearly $750,000 as part of a marketing deal with the failed crypto firm.
Denials and Allegations
Despite rubbing shoulders with influential figures, Sam Bankman-Fried denies any wrongdoing. Prosecutors contend that he criminally mismanaged the exchange and mingled funds.
Revelations on FTX Balances
During the trial, financial statement analysis and accounting professor Peter Easton disclosed that in 2021, FTX customers believed their balances were approximately $20 billion in digital assets when, in reality, they amounted to $5 billion.
The Ongoing Trial
Sam Bankman-Fried’s trial is anticipated to continue for another four weeks, shedding light on his actions and decisions during the rise and fall of FTX.