Court Catastrophe: SBF testifies in his own words that he thought failed crypto exchange FTX was ‘fine’

SBF has finally taken the stand in the federal case against him, and if his words are any indication, his words may come back to haunt him. On Monday, SBF told an open court that he ‘felt the company was fine’ despite obvious signs that it was not.

In new testimony, Sam Bankman-Fried appears to be either the most deluded person since Donald Trump’s political ascension or he may be the most unaware of them all. In the testimony, SBF told lawyer Mark Cohen that he felt the company was ‘fine’ before it was forced to go under and later file for bankruptcy. The collapse of course became one of the most significant financial collapses of a company ever.

‘My view at the time was the exchange was OK, and there was no hole in terms of assets,’ Bankman-Fried said.

The testimony came in response to a particular claim by prosecutors. Prosecutors maintain that SBF knew things were going left but instead ‘continued to mislead the public’ in an effort to slow a ‘tsunami’ of withdrawals.