"SBF's Trial Unveils Financial Deceit and Disappearing Billions"
In the trial of Sam Bankman-Fried, FTX's top attorney, Can Sun, testified that he was "shocked" to discover a $7 billion hole in FTX's finances and that customer funds had been co-mingled without consent. Sun revealed that Bankman-Fried asked for legal justifications for using customer money, but Sun stated there were none. Former members of Bankman-Fried's executive team have pleaded guilty to financial crimes and testified against him. Sun also described a panicky atmosphere in the company's office prior to FTX's bankruptcy declaration.