NEW YORK: FTX founder Sam Bankman-Fried's lawyer on Tuesday (Oct 17) said the now-bankrupt cryptocurrency exchange's investments were not "reckless and frivolous", pushing back against testimony by former executive Nishad Singh portraying its spending on marketing and celebrity endorsements as excessive.Singh, FTX's former engineering chief, testified for a second straight day at Bankman-Fried's fraud trial in Manhattan federal court.Under cross-examination, Singh told the jury that he thought FTX would be able to stay in business upon learning in September 2022 of a US$13 billion shortfall in customer funds, potentially bolstering Bankman-Fried's argument that he believed the exchange's troubles were manageable.FTX declared bankruptcy on Nov 11, 2022.Singh testified on Monday that the company's venture investments and US$1.1 billion in planned marketing deals, including naming rights to the arena where the NBA's Miami Heat play and featuring NFL quarterback Tom Brady in commercials, "reeked of excess and flashiness".Defence lawyer Mark Cohen on Tuesday asked Singh, one of three former members of Bankman-Fried's inner circle who have pleaded guilty to fraud and agreed to cooperate with prosecutors, whether promoting FTX's brand could be useful."I understood it had business benefits and costs," Singh said in testimony that defence lawyers could use to argue that Bankman-Fried was making what he believed to be good-faith business decisions in shelling out funds for marketing and investments even if others disagreed.Bankman-Fried is in the third week of his trial on charges involving the looting of billions of dollars in FTX customer funds to make investments, donate to US political campaigns and prop up his hedge fund, Alameda Research.

He has pleaded not guilty.Singh testified on Monday that he worried a deal the company had with an investment firm called K5, which Bankman-Fried described as a "one-stop shop" for brokering relationships with celebrities, would prove

Read more on channelnewsasia.com

All news from channelnewsasia.com

The website meaws.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

13.11 / 23:07

guy Netflix queer show Love Solo The First Queer Eye Guy to Go Solo Is…

Queer Eye stan, today is something like that fateful day. For today, Bobby “guy who renovates your house” Berk has left .This content can also be viewed on the site it from.In a statement posted to X (f.k.a.

13.11 / 22:45

lesbian career Bill Gay Trans cover Transgender Judge Phyllis Frye to speak at Dallas Holocaust and Human Rights Museum

13.11 / 22:32

tv Entertainment Showtime LGBTQ+ history ‘Fellow Travelers’ teaches a lesson on rough trade with its spiciest scene yet—but viewers have one question

13.11 / 20:45

lgbtq President reports information social Bill show D.C. bill would fund local news outlets

13.11 / 20:07

politics Ron “Don’t Say Gay” DeSantis’ presidential campaign officially enters its death spiral era

13.11 / 19:35

Life American Idol David Archuleta has no time for zealot who says he lost all “joy in his eyes” after coming out

13.11 / 19:23

Pride Music information voice Nov Parade and festival registration opens on Nov. 20

13.11 / 19:23

film STARS voice PHOTOS: ‘Iron Claw’ premiere at the Texas Theater

13.11 / 19:19

lgbt lgbtq Music reports concert country band Out in the World: LGBTQ news from Europe and Asia

13.11 / 18:55

politics Did Ivanka Trump lie in court last week?

13.11 / 18:55

Life Zac Efron endures a speedo mishap, Troye Sivan’s demon twink makeover & Luke Evans’ shirtless opera

13.11 / 18:29

Anti-trans protestor loses discrimination case against National Women’s Council

13.11 / 18:17

lgbt STARS Trans Love Transgender Marlon Wayans Reveals Oldest Child Is Transgender

13.11 / 17:39

Music Pop STARS country track patient New Love, Don’t Start Now and Houdini: Dua Lipa’s lead singles ranked

13.11 / 17:17

lgbtq LGBTQIA+ Podcasts Transgender Marlon Wayans reveals eldest child is transgender: ‘It was a very painful situation for me’

13.11 / 16:39

instagram sports Life Olympics Diving Olympic diver Anton Down-Jenkins turns in his speedo, but luckily for us, he’s staying near the pool

13.11 / 16:21

lgbt country Gay New Home Secretary urged to scrap Suella Braverman’s “cruel” asylum plans

13.11 / 16:18

lgbtq Fox President reports Gay Tim Scott drops out of presidential race

13.11 / 15:53

LGBTQ representation All Of Us Strangers Gay Irish actor Andrew Scott was encouraged to hide his sexuality early in his career

13.11 / 15:31

lgbt Pride awards hospital STARS show Transgender Caitlyn Jenner Sends Lamar Odom Message Years After Khloé Kardashian Split

13.11 / 15:29

Music blues Celebrity STARS Gay track cover Honey Dijon: “I’m a proponent of joy”

13.11 / 15:17

politics WATCH: Pete Buttigieg marks Veterans Day with heartfelt message

13.11 / 14:39

Suella Braverman sacked as UK Home Secretary following recent controversies

13.11 / 14:39

photography Queer men of Tbilisi intimately photographed for gorgeous new Elska magazine

13.11 / 13:55

Pride beautiful Transgender Marlon Wayans Revealed His Son, Kai, Is Transgender

13.11 / 13:29

lgbt President death social country voice Gay Legacy The colonial legacy of anti-LGBTQ+ laws in Africa

13.11 / 13:29

awards BBC social STARS show Digital Ally shock Big Brother star Trish Balusa issues apology after historical homophobic tweets resurface

13.11 / 13:15

President 2020 awards Gay Daughter HER Kellyanne Conway's Daughter Praises Mom for Accepting Her as Gay

13.11 / 13:13

homosexual lgbtq reports recommendations country Transgender Pope Francis fires anti-LGBTQ bishop

13.11 / 11:51

exclusive Celebrity beautiful WhatsApp Join our OK! WhatsApp community to get exclusive showbiz news straight to your phone

13.11 / 11:51

instagram Pop singer Actor classical strain Gareth Gates reveals bullying hell as he's 'abused' by three women on luxury cruise ship

13.11 / 08:33

instagram film blues social Actor STARS Royal Blue Red, White & Royal Blue stars share adorable BTS photos post SAG-AFTRA strike

13.11 / 05:02

Entertainment awards information pandemic performer STARS show The White Lotus creator says season 3 will be “longer, bigger, and crazier”

13.11 / 05:02

film President blues show Gay Love Caseys sequel Red, White & Royal Blue author opens up about a potential sequel

13.11 / 05:02

film Pop reports social Actor STARS Love HER Legend of Zelda: Euphoria’s Hunter Schafer reacts to fans casting her as the titular princess

13.11 / 05:02

Music Pop song record singer Love beautiful Britney Spears reflects on the first time she met Taylor Swift with a throwback photo

13.11 / 05:02

lgbtq reports information social Trans Transgender shock Platform The Trevor Project leaves X due to the “increasing hate and vitriol” on the platform

13.11 / 02:55

film queer BBC performer career Gay Love Fleabag’s Andrew Scott says he was “encouraged” to hide his sexuality early in his career

12.11 / 19:33

Life TikTok TIKTALK Taylor Zakhar Perez’s cake, Madonna’s best dancer & Ts Madison’s big milestone

12.11 / 18:59

Drag Entertainment the queerty interview dragaholic Tenderoni dishes on drag king misconceptions, the wildest drag scene, and why Uncle Jesse can get it

12.11 / 17:29

Fashion Life Gus Kenworthy’s fancy pants, Jeremy Pope goes bare & more: All the fiercest & queerest fits of the week

12.11 / 17:29

Life Reddit representation gays “Boring” queers rise! Gays reveal the types of LGBTQ+ representation they want to see more of on TV

12.11 / 17:13

instagram Music song performer singer social show Frank Ocean teases new music with a one-minute preview

12.11 / 16:19

SNL Saturday Night Live Comedy Gay Timothée Chalamet flashes butt on ‘SNL’ as Troye Sivan: ‘He’s gay famous’

12.11 / 14:41

Actor Gay Alternative Andrew Scott Addresses Being Closeted & Coming Out as Gay, Alternative 'Fleabag Ending & Internet Thirst

12.11 / 10:59

homosexual model President reports Gay Love Kelly Johnson Embodies the Hard-Line Views She Shares With the Speaker

12.11 / 05:59

film Pop reports social Actor STARS Love HER Legend of Zelda: Euphoria’s Hunter Schafer reacts to fans casting her as the titular princess

12.11 / 05:13

film queer BBC performer career Gay Love Fleabag’s Andrew Scott says he was “encouraged” to hide his sexuality early in his career

12.11 / 03:45

boy Pride queer STARS Gay Sex Education’s Ncuti Gatwa on publicly coming out: “I’ve never been in the closet”

12.11 / 03:21

queer BBC STARS folk show Trans actress Russell T Davies slams anti-trans critics ahead of Yasmin Finney’s Doctor Who debut

12.11 / 03:21

instagram Music song performer singer social show Frank Ocean teases new music with a one-minute preivew

12.11 / 00:57

Loose Women Loose Women's Kelly Holmes steps out with girlfriend after 'living in fear' about sharing sexuality

11.11 / 21:33

Music song stage show voice Trans audience Diving lessons

11.11 / 20:11

Life Matt Bomer hooks up with Todd Snyder, X-mas Ts & the dumbest party game ever: 10 things we’re obsessed with this week

11.11 / 20:11

instagram Goods Instastuds Matteo Lane Gay Twitter(Твиттер) Neymar’s new trunks, Isaac Souza’s big win, & Mark Miller’s comeback

11.11 / 20:11

film Entertainment Wrestling homoerotic Wrestling flick ‘Vision Quest’ is totally ’80s, totally homoerotic—and has a totally awesome Madonna cameo

11.11 / 18:53

President recommendations social Transgender Pope Sparks Outrage After Firing Anti-LGBTQ Texas Bishop: 'Dictator'

11.11 / 18:27

lgbtq performer Gay PHOTOS: Mx. Shakers

11.11 / 17:55

ticker featured Christmas Eve ‘It’s a Wonderful Knife’ is the Gay Holiday Slasher Movie You Need

11.11 / 17:55

Entertainment lgbtq hospital recommendations prevention track strain Let there be light

11.11 / 17:21

Life Remembering Leonard Matlovich, the gay vet who fought against homophobia in the US military… in 1975

11.11 / 16:51

politics Ivanka’s public humiliation, Ron “Don’t Say Gay” DeSantis goes limp, the muscle daddy making MAGA implode

11.11 / 16:17

reports death infection Gay Transgender right-wing Right-Wing Website Publishes Op-Ed Responding to 'Bubba' Copeland Criticism

11.11 / 14:49

homosexual lgbtq reports recommendations Bill Trans Transgender Activists push for LGBTQ-inclusive India penal code

11.11 / 09:11

boy Hollywood President performer Gay Art Love How a Friend of the High Line Spends His Sundays

11.11 / 06:37

belong to dublin Irish celeb hairstylist Andrew Fitzsimons opens up about being bullied in school

11.11 / 04:43

film Entertainment Military documentary WATCH: Gay couple recalls “serving in secret” in new doc about discrimination in the U.S. military

11.11 / 04:43

Life Netflix tweets Pick of the Twitter gays Michael Fassbender is quite ‘The Killer,’ if these thirsty gays are any indication

11.11 / 04:43

politics Senate Josh Hawley just got served a heaping dump of bad news about his reelection chances

11.11 / 01:09

sports Life Running Marathon Meet Cal Calamia, the nonbinary runner who just won the New York City Marathon

11.11 / 01:09

boy Life lgbtq singer social Gay This week in gay news: Pedro Pascal tops, Ivanka’s walk of shame & Armie Hammer’s crazy comeback

11.11 / 00:57

lesbian instagram awards show Trans Love actress Jamie Lee Curtis Prays for ‘Cessation of Violence’ Against All People, Calls Out Homophobia and Transphobia ‘Championed In the Name of Religion’

Sam Bankman-Fried's lawyer says FTX investments were not 'reckless'

Related News