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FTX founder Sam Bankman-Fried testifies in his fraud trial over the collapse of the bankrupt cryptocurrency exchange, at federal court in New York City, U.S., October 27, 2023 in this courtroom sketch. REUTERS/Jane Rosenberg/File Photo Acquire Licensing RightsCompanies Champion Trust Llc FollowOct 30 (Reuters) - FTX founder Sam Bankman-Fried is set on Monday to resume testifying at his fraud trial on charges related to the cryptocurrency exchange's collapse last year. Here are five key moments from Bankman-Fried's testimony so far. HIGH-END HOUSING AND ENDORSEMENT DEALSBankman-Fried testified that FTX corporate cash paid for high-end housing for employees in the Bahamas and endorsement deals. "We didn't care if a user withdrew funds and used them to buy muffins, to pay business expenses, to invest or anything else," Bankman-Fried testified.

Persons: Sam Bankman, Fried, Jane Rosenberg, Jody Godoy, Luc Cohen, Noeleen Walder, Will Dunham Organizations: REUTERS, PEOPLE, Alameda Research, Prosecutors, Massachusetts Institute of Technology, Thomson Locations: New York City, U.S, FTX's, Bahamas, Alameda, ALAMEDA, New York

"We thought that we might be able to build the best product on the market," Bankman-Fried said during his six hours of testimony in Manhattan federal court. Bankman-Fried on Friday testified that while Ellison provided him a spreadsheet she was considering sending to a lender, he did not look at it in detail. On Friday, Bankman-Fried sought to place much of the blame for Alameda's failure on Ellison. Bankman-Fried was questioned by both sides on Thursday without jurors present as the judge assessed what parts of his testimony would be admissible. Prosecutors will get their first chance to question Bankman-Fried with jurors present when they cross-examine him next week.

Persons: Sam Bankman, Fried, Caroline Ellison, Mark Cohen's, Ellison, Gary Wang, Wang, Nishad Singh, FTX, Cohen, Jody Godoy, Luc Cohen, Will Dunham, Daniel Wallis Organizations: Alameda Research, Prosecutors, Alameda, FTX, Thomson Locations: Alameda, Manhattan, New York

Bankman-Fried has pleaded not guilty to charges of stealing billions of dollars from customers at his now-defunct FTX cryptocurrency exchange. "He didn't think rules like 'don't lie' or 'don't steal' fit in to that framework," said Ellison, who ran Bankman-Fried's crypto-focused hedge fund Alameda Research. Ellison said Bankman-Fried asked her to falsify Alameda's financial statements to keep lenders at bay amid a downturn in cryptocurrency markets in 2022. BANKMAN-FRIED THOUGHT HE COULD BECOME U.S. PRESIDENTBankman-Fried was "very ambitious," Ellison said, adding that he "thought there was a 5% chance he would become president some day." Prosecutors have said that Bankman-Fried used customer funds as he pleased, and that the resulting shortfall caused FTX's collapse.

Persons: Caroline Ellison, Sam Bankman, Fried, Ellison, Bankman, Prosecutors, ELLISON Ellison, Jody Godoy, Luc Cohen, Noeleen Walder, Matthew Lewis Organizations: Alameda, Federal Court, Reuters, REUTERS Acquire, Alameda Research, Toyota Corolla, Prosecutors, Thomson Locations: New York City, U.S, Alameda, Bahamas, FTX, Binance, China, New York

Former crypto hedge fund Alameda Research CEO Caroline Ellison finds and points out Sam Bankman-Fried during Bankman-Fried's fraud trial over the collapse of FTX, the bankrupt cryptocurrency exchange, at Federal Court in New York City, U.S., October 10, 2023, in this courtroom sketch. REUTERS/Jane Rosenberg/File Photo Acquire Licensing RightsCompanies Champion Trust Llc FollowNEW YORK, Oct 11 (Reuters) - Caroline Ellison, the former co-head of Sam Bankman-Fried's hedge fund and a pivotal witness in his trial on fraud charges tied to the collapse of his FTX cryptocurrency exchange, is scheduled to retake the stand on Wednesday morning. Ellison, the former co-chief executive of Alameda Research, testified on Tuesday that she was part of a multibillion-dollar conspiracy led by Bankman-Fried to defraud FTX customers, investors and lenders. Ellison said the hedge fund took about $10 billion in FTX customer funds to repay its debts and make investments. A third cooperating witness, former FTX engineering chief Nishad Singh, is also expected to testify at the trial, which could last up to six weeks.

Persons: Caroline Ellison, Sam Bankman, Jane Rosenberg, Ellison, FTX, Bankman, shrugged, Fried, Mark Cohen, Gary Wang, Nishad Singh, Jody Godoy, Luc Cohen, Noeleen Walder, Matthew Lewis Organizations: Alameda, Federal Court, REUTERS, Alameda Research, Bankman, Manhattan U.S, Stanford University, Prosecutors, Thomson Locations: FTX, New York City, U.S, Alameda, New York

"Assets were not fine, because FTX did not have enough assets for customer withdrawals." On Friday, Wang testified that on Nov. 6, 2022, FTX executive Nishad Singh knocked on his door and told him customers were trying to withdraw their money faster than FTX could process the transactions. He said no other FTX users had those special privileges, which the exchange did not disclose to its investors or customers. After FTX declared bankruptcy on Nov. 11, 2022, Wang testified that at Bankman-Fried's direction, he turned over some remaining FTX customer assets to the Bahamas, where FTX was based. Wang said Bankman-Fried said liquidators and regulators there were more amenable to letting him stay in charge of FTX.

Persons: Sam Bankman, Fried, Nicolas Roos, Gary Wang, Jane Rosenberg, FTX, Wang, FTX's, Nishad Singh, CoinDesk, Bankman, WANG, District Judge Lewis Kaplan, Christian Everdell, Caroline Ellison, Alameda's, Mark Cohen, Sam, Jody Godoy, Luc Cohen, David Gregorio, Nick Zieminski, Matthew Lewis Organizations: U.S, Federal Court, REUTERS, Alameda Research, Washington , D.C, District, Bankman, Thomson Locations: FTX, New York City, U.S, Manhattan, Washington ,, Alameda, Bahamas, Fried, United States, New York

Wang, 30, is one of three FTX insiders who have pleaded guilty to fraud charges and entered a cooperation agreement with the government. Wang testified on Thursday that while at FTX, he created software code at the direction of Bankman-Fried that gave "special privileges" to Alameda, allowing it to withdraw unlimited funds. While Wang is the first cooperator to take the stand, jurors have so far heard from three other witnesses. He said Bankman-Fried appeared worried and told him the companies were "not bulletproof" as they had been the year before. Zac Prince, the founder of crypto lender BlockFi, is among the witnesses expected to testify after Wang finishes when the trial resumes next Tuesday.

Persons: Sam Bankman, Eduardo Munoz, Gary Wang, Wang, Fried, FTX, Matt Huang, Adam Yedidia, Zac Prince, Jody Godoy, David Gregorio Our Organizations: REUTERS, Alameda Research, Prosecutors, Alameda, Thomson Locations: New York, U.S, Alameda, FTX

In his opening statement, Rehn said Bankman-Fried used more than $10 billion in FTX customer funds to amass his own wealth, power and influence. But Rehn said FTX collapsed because of Bankman-Fried's plundering of FTX customer cash. According to prosecutors, Bankman-Fried installed Ellison, his sometime romantic partner, as a "front" to lead Alameda in 2021. "In reality he was still calling the shots at Alameda," Rehn said. But Bankman-Fried's lawyer said that handing over the reins was normal as FTX grew and took up his time.

Persons: Sam Bankman, Attorney Thane Rehn, Jane Rosenberg REFILE, Fried, Thane Rehn, Mark Cohen, Rehn, Cohen, Zhao, FTX, duping, Caroline Ellison, Ellison, Jody Godoy, Luc Cohen, Amy Stevens, Matthew Lewis Organizations: U.S, Attorney, Federal Court, REUTERS, Alameda Research, Alameda, Bankman, Thomson Locations: Bankman, FTX, New York City, U.S, Bahamas, Alameda, New York

REUTERS/Jane Rosenberg Acquire Licensing RightsCompanies Champion Trust Llc FollowNEW YORK, Oct 3 (Reuters) - Sam Bankman-Fried's father and brother, as well as Donald Trump's former spokesman Anthony Scaramucci, are among possible witnesses at the cryptocurrency exchange founder's fraud trial, according to a list read by a prosecutor in court on Tuesday. There is no guarantee that Scaramucci, Bankman-Fried's father Joseph Bankman or his brother Gabriel Bankman-Fried will testify during the trial, which is expected to last six weeks and kicked off on Tuesday with jury selection. Prosecutor Danielle Sassoon read the list of dozens of names - which included both proposed prosecution and defense witnesses - to see if any prospective jurors knew them. Scaramucci's alternative investment firm SkyBridge Capital once owned a stake in FTX, Bankman-Fried's cryptocurrency exchange which declared bankruptcy in November 2022 amid a flurry of customer withdrawals. The now-bankrupt fund is fully owned by Bankman-Fried and former FTX executive Gary Wang, court filings show.

Persons: Sam Bankman, Fried, Christian Everdell, Jane Rosenberg, Donald Trump's, Anthony Scaramucci, Joseph Bankman, Gabriel Bankman, Danielle Sassoon, District Judge Lewis Kaplan, Bankman, Kaplan, Gary Wang, Nicolas Roos, Caroline Ellison, Nishad Singh, Ellison, Jody Godoy, Luc Cohen, Amy Stevens, Lincoln, Nick Zieminski Organizations: Federal Court, REUTERS, SkyBridge, Alameda Research, District, Insight Partners, Bankman, Manhattan U.S, Thomson Locations: FTX, New York City, U.S, Alameda, Alameda ., New York

Companies Champion Trust Llc FollowNEW YORK, Oct 3 (Reuters) - Sam Bankman-Fried's fraud trial got under way with jury selection on Tuesday, nearly a year after his now-bankrupt cryptocurrency exchange's collapse shocked markets and tattered his reputation. He was dressed in a suit and tie, with his once signature curly, unkempt hair cut into a neater trim. Bankman-Fried's is the highest profile case U.S. prosecutors have so far brought against a former cryptocurrency executive. Prosecutors say Bankman-Fried built that reputation on lies and bolstered it with endorsements from celebrities and star athletes. He will be brought to court early on most days to allow him to prepare with his lawyers.

Persons: Sam Bankman, District Judge Lewis Kaplan, Kaplan, Bankman, Fried, Nicolas Roos, Mark Cohen, Caroline Ellison, Gary Wang, Nishad Singh, Ellison, Jody Godoy, Luc Cohen, Amy Stevens, Lincoln, Nick Zieminski Organizations: District, Alameda Research, Manhattan U.S, Prosecutors, Thomson Locations: Manhattan, FTX, Alameda, New York

Prosecutor Chris Conroy said: "The defendant Donald J. Trump falsified New York business records in order to conceal an illegal conspiracy to undermine the integrity of the 2016 presidential election and other violations of election laws." SOCIAL MEDIA POSTSProsecutors during the arraignment said Trump made a series of social media posts, including one threatening "death and destruction" if he was charged. "They can't beat us at the ballot box so they try to beat us through the law," Trump said. The false records included invoices from Cohen, entries in a ledger for Trump maintained by the Trump Organization, and check stubs, according to the indictment. "Under New York state law, it is a felony to falsify business records with intent to defraud and intent to conceal another crime.

Bankman-Fried, FTX's founder, pleaded not guilty to eight criminal charges filed against him in December. Bankman-Fried now faces 12 criminal charges after prosecutors unsealed a new indictment against him last week. Singh is the third Bankman-Fried close associate to plead guilty and agree to cooperate with prosecutors. Caroline Ellison, who was Alameda's chief executive, and Gary Wang, who was FTX's chief technology officer, pleaded guilty in December to seven and four criminal charges, respectively. Singh was a close friend of Bankman-Fried's younger brother in high school, Bankman-Fried wrote in a deleted blog post.

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