Sam Bankman-Fried Faces Cross-Examination

During his ongoing criminal trial, Sam Bankman-Fried
(SBF) faced some tough questions from New York prosecutors today (Monday). The
once prominent figure in the crypto industry found himself cross-examined on
his past statements and admissions, including derogatory remarks about certain
crypto investors and his candid comments on crypto regulation.

The Financial Times reported that during the cross-examination,
prosecutors presented SBF with tweets, media interviews, and sworn testimony,
which he claimed were not related to the running of the defunct crypto
exchange.

These statements were in stark contrast to the
eventual collapse of the exchange, leaving customers with an astounding $8
billion in missing deposits. Notably, SBF admitted to uttering derogatory
comments against FTX’s investors. He also confessed to downplaying his advocacy
for crypto regulation
Regulation

Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority (

Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority (
Read this Term as mere “PR” shortly before his arrest in
December.