During a second day of cross-examination, the 31-year-old former billionaire said he had thought it "permissible" for his Alameda Research hedge fund to use money that FTX customers had deposited into a bank account the fund controlled.
Another former member of Sam Bankman-Fried’s inner circle is planning to plead guilty to US criminal charges over his role in an alleged multiyear fraud at collapsed crypto exchange FTX.
FTX Chief Executive Officer John J. Ray III and restructuring advisers have been poring over the company’s books in search of cash, cryptocurrency and assets that could be sold to help repay creditors