BTC spikes above $35K, Bankman-Fried takes the stand, Gemini sues Genesis, Elon Musk’s plans | Weekly Recap
This week saw Bitcoin (BTC) hit a new yearly high; Sam Bankman-Fried testifies; Gemini sues Genesis Global, Elon Musk has crypto plans and regulatory efforts resurface. Bankman-Fried testifies FTX founder Sam Bankman-Fried took the stand on day 13 of his trial to deliver testimony, leveraging a remarkable “I don’t recall” approach in his speech to the judges. Bankman-Fried claimed that FTX refrained from utilizing auto-deletion mechanisms for their decision-making channels and leaned heavily on Signal for security measures. Furthermore, he deflected accountability onto his legal counsel, underscoring his lack of knowledge regarding specific aspects. The 14th day of the trial also saw Bankman-Fried on the stand . He attributed Alameda’s management turmoil to his former partner, Caroline Ellison, and candidly admitted to utilizing customer funds for political contributions. Key highlights from his testimony involved vehemently refuting any allegations...