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Final week, the felony trial of FTX founder and CEO Sam “SBF” Bankman-Fried continued in New York, with the person himself giving testimony as a part of his protection. In line with the SBF, he didn’t know any particulars in regards to the creation of North Dimension, an alleged “shadowy entity” used to launder buyer funds from the crypto trade by means of Alameda Analysis. It was former chief regulatory officer Dan Friedberg who offered him with the papers organising the agency, which he signed with out query, SBF claimed.
Bankman-Fried denied realizing why crypto trade FTX started transferring person funds from a checking account with Alameda to North Dimension. He prompt that banks could have been extra comfy with North Dimension as a way to keep away from well-known hedge funds linked to crypto, reminiscent of Alameda.
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