BlockNews
FOLLOW ON X
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
Home FEATURED

Sam Bankman-Fried Trial: Day 4 Updates and Testimonies

BlockNews Team by BlockNews Team
October 6, 2023
in FEATURED, MEDIA, SOCIAL
Reading Time: 3 mins read
1
SHARES
21
VIEWS
Share on XShare in TelegramShare on Reddit

Day 4 of the Sam Bankman-Fried trial brought forth significant updates and testimonies that shed light on the allegations faced by the FTX co-founder. In this article, we will cover the key developments and statements made in court.

🚨 BREAKING: 10-point summary for day 3 of the SBF trail:

1⃣ Former FTX employee Adam Yedidia testified about the absence of clear personal and professional boundaries at FTX.

2⃣ Yedidia revealed Bankman-Fried often slept in a beanbag chair inside a shared $35 million Bahamas… pic.twitter.com/fgertFk7ax

— BlockNews.com (@blocknewsdotcom) October 5, 2023
Via @blocknewsdotcom – X

Opening Statements and Alleged Misappropriation

During the trial, both the prosecution and the defense presented their opening statements. Sam Bankman-Fried faces federal charges related to the misappropriation of billions of dollars of customer funds for real estate, donations, political contributions, and investments.

Testimony in court focused on SBF’s paddle tennis meeting and the alleged ‘special privileges’ granted to Alameda Research, a fund closely linked to FTX. Details regarding these aspects were shared by witnesses.

Witness Testimonies: Zac Prince and Elan Dekel

Taking the stand were Zac Prince, the founder and CEO of BlockFi, and Elan Dekel, the vice president of product at Pinecone. Prince’s testimony revealed insights into the relationship between BlockFi and Alameda, including the risk management team’s warnings about potential risks related to Alameda loans. The court also heard about Dekel’s involvement, although his exact relevance to the case was not immediately clear.

As the trial progressed, the court discussed the upcoming witnesses and the schedule. Depending on how long the prosecution’s questioning and the defense’s cross-examination take, the witnesses may be called to the stand at a later time. Plans were made to finish Friday’s session early and continue questioning on Tuesday if needed.

Gary Wang’s Testimony and Alameda’s ‘Special Privileges’

FTX co-founder Gary Wang’s testimony drew attention as he confessed to committing various crimes alongside Bankman-Fried, Caroline Ellison (former Alameda CEO and romantic partner), and Nishad Singh (former FTX director of engineering). Wang also highlighted that Alameda was granted “special privileges” at SBF’s direction.

Other testimonies included Matt Huang from Paradigm and Adam Yedidia, a former SBF roommate and FTX employee. Huang discussed attempts to establish a governance model for FTX, while Yedidia’s testimony recounted a pivotal meeting with Bankman-Fried in June 2022, where concerns about FTX’s bulletproof status were expressed.

The trial of Sam Bankman-Fried continues to unfold, with each day bringing new revelations and testimonies. The court proceedings are closely monitored for further updates. Stay tuned for the latest news from the courtroom.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: FTXFTX TrialSam Bankman-Fried
TweetShareShare
BlockNews Team

BlockNews Team

DON'T MISS THESE! HOT OFF THE PRESS

What is World Liberty Finance and How Does it Work? Should You Buy WLFI in 2025? 
CRYPTO

What is World Liberty Finance and How Does it Work? Should You Buy WLFI in 2025? 

September 2, 2025
Everything You Need to Know About Jupiter and Its JUP Token Driving Solana DeFi
CRYPTO

Everything You Need to Know About Jupiter and Its JUP Token Driving Solana DeFi

September 1, 2025
Solana’s Next Chapter: Can $SOL Reach $2,000 in the Coming Cycle?
CRYPTO

Solana’s Next Chapter: Can $SOL Reach $2,000 in the Coming Cycle?

September 1, 2025
SEI Crypto Guide: What It Is, How It Works, and Future Outlook
CRYPTO

SEI Crypto Guide: What It Is, How It Works, and Future Outlook

August 29, 2025
What is Cronos and How Does it Work? Is CRO the Biggest Sleeper Crypto of 2025?
CRYPTO

What is Cronos and How Does it Work? Is CRO the Biggest Sleeper Crypto of 2025?

August 28, 2025
ZORA and Base: How Creator Coins Are Redefining Crypto’s Next Big Wave
CRYPTO

ZORA and Base: How Creator Coins Are Redefining Crypto’s Next Big Wave

August 27, 2025
Load More

Related News

Trump Warns U.S. Could Become “Third World” Without Tariffs, Pushes for Early Supreme Court Ruling

Trump Warns U.S. Could Become “Third World” Without Tariffs, Pushes for Early Supreme Court Ruling

September 2, 2025
Donald Trump Responds to Death Rumors, Dismisses Reports as ‘So Fake’ in Strong Rebuttal

Donald Trump Responds to Death Rumors, Dismisses Reports as ‘So Fake’ in Strong Rebuttal

September 2, 2025
Fed Rate Cut Odds Spike Ahead of Jerome Powell’s September Decision: Here is Why This is Important

Fed Rate Cut Odds Spike Ahead of Jerome Powell’s September Decision: Here is Why This is Important

September 2, 2025
What is World Liberty Finance and How Does it Work? Should You Buy WLFI in 2025? 

What is World Liberty Finance and How Does it Work? Should You Buy WLFI in 2025? 

September 2, 2025
Gavin Newsom Teases “Trump Corruption Coin” in Latest Jab at President Trump

Gavin Newsom Teases “Trump Corruption Coin” in Latest Jab at President Trump

September 2, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews is your premier source for real-time cryptocurrency, blockchain, political and financial market news.

Stay ahead of the herd with BlockNews

RESOURCES

  • About Us
  • Contact Us
  • Editorial Policies
  • Terms and Conditions
  • Privacy Policy
  • Sitemap

DISCLOSURES AND POLICIES

BlockNews provides independent reporting on crypto, blockchain, and digital finance. Content is for informational purposes only and does not constitute financial advice. Sponsored material is always disclosed. By using this site, you agree to our Terms and Conditions and Privacy Policy.

© 2025 BlockNews

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • LITECOIN
    • CHAINLINK
    • SUI
  • MEMECOINS
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2025 BlockNews