Sam Bankman-Fried trial gives jury inside view of FTX's final days

NEW YORK - Sam Bankman-Fried's fraud trial has given an unprecedented window into how a group of graduates from elite U.S. universities in their late 20s and early 30s tried, and ultimately failed, to avert one of the biggest and swiftest corporate meltdowns ever.

The jury deliberations, set to begin on Thursday, will take place behind closed doors. But the 10-day window before FTX's Nov. 11, 2022, bankruptcy declaration could be a significant part of their discussions. FTX could not process the withdrawals fast enough, and Wang testified that Singh needed his help to speed its systems up.

In a message seen by jurors, Bankman-Fried suggested four options: call venture capitalists, send a "confident tweet thread," halt withdrawals, or reduce the values of deposits. There would be no bailout from Apollo. Late on Nov. 7, Bankman-Fried reached out to Zhao - whose tweet less than two days earlier accelerated the run on FTX - and struck an initial deal for Binance to acquire FTX.

The talk-show host said she bought out a New York City store's entire Halloween candy stock so she could appease greedy kids with two candy bars each.

Source: Law Daily Report (lawdailyreport.net)

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