Sam Bankman-Fried Reveals He Knew Basically Nothing About Crypto
The ongoing trial of Sam Bankman-Fried, the co-founder of the now-defunct FTX crypto exchange, has brought to light some surprising revelations about his knowledge of cryptocurrency. According to reports from The Guardian’s live coverage of the trial, Bankman-Fried admitted to having very little understanding of cryptocurrency before launching FTX and its associated hedge fund, Alameda Research. While on the stand, he confessed, “I had absolutely no idea how they worked. I just knew they were things you could trade.” The trial has also revealed that when Bankman-Fried partnered with co-founder Gary Wang, who is testifying against him, they had no