Early final summer season, Adam Yedidia took Sam Bankman-Fried to 1 aspect after a recreation of paddle tennis. Within the shadow of a hut within the grounds of the Bahamian penthouse they and others shared, he requested the crypto tycoon: “Are we OK?”
Yedidia informed a New York court docket this month that he was anxious FTX, the crypto change that Bankman-Fried had co-founded and at the moment led, was in monetary hassle. He recounted his outdated good friend’s reply: “We had been bulletproof final 12 months, however we’re not bulletproof this 12 months.”
FTX collapsed a couple of months later, sending shockwaves via the cryptocurrency business. US prosecutors hope this chat, which they’ve taken to calling the “bulletproof dialog,” will assist to indicate Bankman-Fried knew about, and hid, an $eight billion money shortfall for months a minimum of earlier than it was uncovered.
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