Sam Bankman-Fried testifies in court, searches for ‘buy Bitcoin’ surge, and Gemini sues Genesis over collateral.
in the Southern District of New York, denying any wrongdoing between FTX and Alameda Research while acknowledging making “big mistakes” during the companies’ explosive growth. Highlights of his testimony include denying directing his inner circle to make significant political donations in 2021, as well as claims that FTX’s terms of use covered transactions between Alameda and the crypto exchange.
“Without prejudging any one asset, the vast majority of crypto assets likely meet the investment contract test, making them subject to the securities laws.”“I do not believe there has been a single serious conversation regarding a settlement between Ripple and the SEC. The SEC is pissed and embarrassed and wants $770M worth of flesh.”
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