report<\/a> from Bloomberg the money was used to invest in other companies like SkyBridge Capital, Modulo Capital, Robinhood, Dave, and Anthropic<\/strong>; repaying loans to lenders like Celsius, Abra, Maple, and Anchorage; donating to political campaigns and charity foundations; and buying real estate properties, including one owned by his parents.<\/span><\/p>\n
<\/p>\n
Easton also said that he had traced the transaction of $1 million that FTX\u2019s Director of Engineering Nishad Singh had made to Mind The Gap (MTG), a political action committee co-founded by SBF\u2019s mother Barbara Fried.<\/span><\/p>\nThe prosecution\u2019s case is that SBF had defrauded FTX\u2019s customers by using their funds for his own benefit and that he had lied about the solvency of the exchange before it filed for bankruptcy in November 2022.<\/span><\/p>\nSBF\u2019s defense team has not yet cross-examined Easton, but they have previously argued that SBF was not aware of the missing funds and that he had acted in good faith to save the exchange from insolvency.<\/span><\/p>\nThe trial is expected to last for several weeks and will have significant implications for the crypto industry, as FTX was one of the largest and most popular exchanges before its collapse. FTX\u2019s native token, FTT, has plummeted by more than 90% since the bankruptcy announcement.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"The trial of Sam Bankman-Fried (SBF), the former CEO of the now-bankrupt crypto exchange FTX, resumed with the testimony of an accounting expert who claimed that SBF had diverted $9 billion of customers\u2019 funds to his own trading firm, Alameda Research.<\/p>\n","protected":false},"author":32,"featured_media":154848,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[74,102,84],"tags":[5179,5355],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/154835"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=154835"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/154835\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/154848"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=154835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=154835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=154835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}