"FTX Fraud Trial: Cross-Examination of Sam Bankman-Fried Unveils Surprising Testimony"

The cross-examination of Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, began in his fraud trial. Assistant US Attorney Danielle Sassoon questioned Bankman-Fried about his public statements regarding the safety and transparency of FTX, highlighting inconsistencies in his responses. The prosecutor also raised his controversial comment about regulators and questioned his motives for expressing support for regulation. Bankman-Fried's defense attempted to shift blame to Binance's treatment of FTX and emphasized his efforts to improve the company's safety. Bankman-Fried admitted to making management mistakes but denied defrauding customers or misappropriating funds. The trial continues.