Sam Bankman-Fried testifies he believed FTX was 'fine' until just before collapse
© Reuters. FILE PHOTO: Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, arrives at court in New York, U.S., August 11, 2023. REUTERS/Eduardo Munoz/File Photo
"My view at the time was the exchange was okay, and there was no hole in terms of assets," he said, referring to his state of mind when he tweeted on Nov. 7, 2022, four days before the exchange declared bankruptcy,"FTX is fine. Assets are fine ... we don't invest client assets. During six hours of testimony on Friday about events earlier in 2022 and in prior years, Bankman-Fried admitted to making"mistakes" that hurt FTX's customers and employees, but said he did not steal customers' money.
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