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This Week in Startups

The Trial of SBF: A deep dive with Inner City Press's Matthew Russell Lee | E1833

Oct 24, 2023
01:08:19
Snipd AI
Matthew Russell Lee, reporter for Inner City Press, joins Jason to discuss life as an independent journalist, startup fraud trends, his observations from the SBF courtroom, and the state of the justice system.
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Podcast summary created with Snipd AI

Quick takeaways

  • The testimonies in the SBF trial expose the inner workings of FTx, with Sam Bankman-Fried portrayed as the boss orchestrating the illegal activities and extravagant spending.
  • The courtroom atmosphere during the SBF trial is intense, with the jury showing keen interest and reacting visibly to the testimonies, which include evidence from messaging apps.

Deep dives

The trial focuses on cooperating witnesses

The trial has been centered around the testimonies of three cooperating witnesses: Carolyn Ellison, Gary Wang, and Nashod Singh. Ellison, a former co-CEO of Alameda, provided insights into the inner workings of FTx and the involvement of the defendants. Wang and Singh, both former employees of FTx, testified about their roles and the illegal activities they were involved in, including bribery and diverting client deposits. The witnesses revealed the personal dynamics within the company, with Sam Bankman-Fried being portrayed as the boss, giving instructions to the others. The testimonies shed light on the extravagant spending, attempts to legitimize FTx through PR strategies, and the manipulation of funds for personal and political purposes.

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