📉 Week three of the historic trial of FTX founder Sam Bankman-Fried begins. Former FTX customer Tarek Morad and former chief engineer Nishad Singh appear as witnesses.
Basic moments:
- Morad lost funds due to the suspension of withdrawals on FTX.
- Singh admitted to fraud and financial irregularities.
- Bankman-Fried spent money excessively and was too ostentatious.
- Singh created an "Allow Negative" bug that allowed Alameda to withdraw an $8 billion loan from FTX.
- Political donations were made in Singh's name and the funds came from FTX client funds.