A prosecutor began cross-examining Sam Bankman-Fried at a New York City trial on Monday, attacking his credibility by highlighting public statements he made before and after the FTX cryptocurrency exchange he founded filed for bankruptcy late last year when it could no longer process billions of dollars in withdrawals.
Assistant U.S. Attorney Danielle Sassoon confronted Bankman-Fried with instances in which he'd promised customers that their assets would be safe and that they could demand those assets to be returned at any time.
Repeatedly, Bankman-Fried answered the series of questions with a rapid "Yep."
Bankman-Fried, 31, has been on trial for the past month on charges that he defrauded his customers and investors of billions of dollars. He has pleaded not guilty to charges that carry a potential penalty of decades in prison.
The California man gained a level of fame from 2017 to 2022 as he created the Alameda Research hedge fund and FTX, building a cryptocurrency empire that became worth tens of billions of dollars. For a time, he seemed to be transforming the emerging industry by conforming to his publicly stated vision of a more regulated and safe environment for users.
Through her line of questioning, Sassoon tried to show that Bankman-Fried's public statements were false and that he promised customers that their accounts were safe while he looted them, spending lavishly on real estate, celebrity-laden promotions, investments and political contributions.
In one instance, she asked him if he'd used profanity in speaking about regulators -- even as he was trying to convince Congress to bring more legitimacy to the cryptocurrency industry by setting up a regulatory framework.
"I said that once," he answered when she offered a specific example.
And when Sassoon asked if his pursuit of regulations was just an attempt at garnering positive public relations, he answered: "I said something related to that, yes."
Before cross-examination began on Monday, Bankman-Fried testified that he believed his companies could withstand the daily withdrawal of billions of dollars in assets until several days before they could not.
Bankman-Fried was arrested last December on fraud charges. Initially freed on a $250 million personal recognizance bond to live with his parents in Palo Alto, California, he was jailed in August when Judge Lewis A. Kaplan became convinced that he had tried to tamper with potential trial witnesses.
He began testifying on Thursday. Kaplan has told jurors that the trial might be completed as early as this week.
Two Canadians are among those killed in southern Lebanon, Global Affairs Canada confirmed late Tuesday. While GAC has not confirmed their names due to privacy, family members tell Â鶹´«Ã½ the two people killed are Hussein and Daad Tabaja.
An image of the unidentified object shot down over Canada's Yukon territory in February 2023 has been obtained by CTVNews.ca.
MPs debated the first non-confidence motion of the fall House of Commons sitting today, seeing Conservative Leader Pierre Poilievre push once again for a snap election. But with votes secured to keep them afloat, Prime Minister Justin Trudeau's Liberals were quick to turn the discussion into a referendum on the Conservative alternative.
A city councillor in British Columbia says an online mob of "extremists" and "politically motivated hackers" is responsible for uncovering and publicizing a photo of him wearing a blackface costume to a Halloween party in 2007.
The federal government has 'no intention' of pausing the next planned increase to the carbon price, Environment Minister Steven Guilbeault confirms.
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A Missouri man convicted of breaking into a woman’s home and repeatedly stabbing her was executed Tuesday over the objections of the victim’s family and the prosecutor, who wanted the death sentence commuted to life in prison.
An advocate organization is calling for an inquiry following the death of a six-year-old boy who went missing in Shamattawa First Nation.
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More Canadians are installing solar panels on their homes, but some are facing challenges when it comes to getting home insurance after the panels are put in.
Four puppies were found near County Road 21 in Essa Township after a passerby spotted one when it ran out of the ditch and onto the road.
After Ontario Premier Doug Ford made controversial comments about solutions to get people out of homeless encampments, advocates and members of the opposition spoke up on Tuesday.
A Missouri man convicted of breaking into a woman’s home and repeatedly stabbing her was executed Tuesday over the objections of the victim’s family and the prosecutor, who wanted the death sentence commuted to life in prison.
Kg rockets, missiles and drones into northern Israel in solidarity with Palestinians in Gaza and its ally Hamas, a fellow Iran-backed militant group. Israel has responded with increasingly heavy airstrikes and the targeted killing of Hezbollah commanders while threatening a wider operation.
Iran’s new president signaled to world leaders Tuesday that he wants to open a 'constructive' chapter in his country’s international relations — but he made clear that everyone else, including the United States, needs to do their part.
A man who authorities say staked out Donald Trump for 12 hours on his golf course in Florida and wrote of his desire to kill him was indicted Tuesday on an attempted assassination charge.
Special counsel Jack Smith this week will be allowed to file hundreds of pages of legal arguments and evidence gathered in the 2020 election subversion and Jan. 6 U.S. Capitol attack criminal case against former president Donald Trump, a federal judge ruled Tuesday.
A federal judge sentenced FTX co-founder Sam Bankman-Fried’s former girlfriend to two years in prison, citing her extensive cooperation with prosecutors that led to the conviction of the former face of the cryptocurrency industry in one of the largest financial frauds in U.S. history.
The federal government has 'no intention' of pausing the next planned increase to the carbon price, Environment Minister Steven Guilbeault confirms.
U.S. President Joe Biden reflected on the motivation behind his decision to step away from politics and sent a message of unity to global leaders gathered at a time of increasing division and geopolitical instability.
MPs debated the first non-confidence motion of the fall House of Commons sitting today, seeing Conservative Leader Pierre Poilievre push once again for a snap election. But with votes secured to keep them afloat, Prime Minister Justin Trudeau's Liberals were quick to turn the discussion into a referendum on the Conservative alternative.
The federal Liberals are creating a new agency to beef up Canada's ability to handle rapidly spreading infectious diseases and protect from future pandemics.
A team at the University of Waterloo are developing a process to 3D-print bones, which could dramatically improve the quality of life for cancer and trauma patients.
The province has announced a new plan to lower the age for mammogram self-referrals to 40 from 50 in an effort to get more Manitobans screened for breast cancer.
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Questions are being raised over the use of body cameras in stores as a way to combat crime.
Scientists have discovered a new species of ghost shark that lives in deep ocean waters near Australia and New Zealand.
The Crown's key witness in the sexual assault trial against former Hedley frontman Jacob Hoggard will take the stand in a northern Ontario courtroom Tuesday afternoon following the judge's instructions to the jury.
Drake wasn't around to accept a handful of trophies at the SOCAN Awards on Tuesday, but the rapper's presence was still looming large at the celebration of Canadian songwriters.
Another woman sued Sean 'Diddy' Combs on Tuesday, alleging that the music mogul and his head of security raped her and recorded it on video at his New York recording studio in 2001.
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Some Royal Bank of Canada employees who joined when the bank acquired HSBC Canada worry they could lose their jobs when RBC's six-month guarantee to keep them expires this month, according to six sources familiar with the situation.
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An ordinary day on the job delivering mail in East Elmwood quickly turned dramatic for Canada Post letter carrier Jared Plourde. A woman on his route was calling out in distress.
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The Canada Border Services Agency (CBSA) reported this week that officers in the agency's Montreal Marine and Rail Services seized 78 vehicles and transferred them to police. Numbers of stolen vehicles in Quebec continue to skyrocket.
Struggling Jeep and Ram maker Stellantis is looking for a CEO to succeed Carlos Tavares, but the company says it's just part of a normal leadership succession plan.
The U.S. Commerce Department on Monday will propose a ban on the sale or import of smart vehicles that use specific Chinese or Russian technology because of national security concerns, according to U.S. officials.
Police are looking to the public for help after thieves broke into a Lethbridge ice creamery, stealing from the store.
An ordinary day on the job delivering mail in East Elmwood quickly turned dramatic for Canada Post letter carrier Jared Plourde. A woman on his route was calling out in distress.
Fire has destroyed a barn and 17,000 plants at a family-owned business in Lower Coverdale, N.B.
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A sea lion swam free after a rescue team disentangled it near Vancouver Island earlier this week.
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The heat is rising for Quebec Premier François Legault as opposition parties demand answers about his government's investment in the planned Northvolt battery factory near Montreal.
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An image of the unidentified object shot down over Canada's Yukon territory in February 2023 has been obtained by CTVNews.ca.
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Newlyweds claim the company they hired to take their wedding photos and videos took off with their precious memories – and their money.
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Saskatchewan’s Serious Incident Response Team (SIRT) has been deployed following a fatal officer-involved shooting on Fishing Lake First Nation.
The Government of Saskatchewan says a private Christian school, embroiled in abuse allegations, has proved it's met education ministry rules by formally disconnecting from an affiliated church. But, by some indications, connections remain.
An appeal hearing stemming from a court challenge of the Government of Saskatchewan's Parents' Bill of Rights has come to a close.
We've all had neighbours we didn't like, but two people from Sault Ste. Marie have been awarded more than half a million dollars for the 'extreme' behaviour of the people who lived next to them.
An image of the unidentified object shot down over Canada's Yukon territory in February 2023 has been obtained by CTVNews.ca.
A 49-year-old Sudbury woman who was killed in a tragic collision with a police boat June 7 on Nepewassi Lake was told to remain in a residence on an island until police returned to pick her up.
Hundreds of job seekers filled the halls hoping for some one-on-one time with employers, and to learn about opportunities from different job sectors.
The calls are growing louder for city council to tighten the rules governing short-term accommodations, including those advertised on websites like Airbnb and Vrbo, after students arrived by the busload at a rented house in the Masonville neighbourhood.
“I was going to make breakfast, and I put the frying pan on the stove and opened it and remembered I needed something from No Frills,†said Frank Wall, who lives just north of Aylmer, Ont.
Three construction workers are being praised for their actions that police in Barrie say likely prevented an armed man from fleeing before being taken into custody.
Four puppies were found near County Road 21 in Essa Township after a passerby spotted one when it ran out of the ditch and onto the road.
An Uber driver was handed a 12-month driving ban on Tuesday following a collision that injured a pedestrian and killed a labrador retriever in Barrie.
Ward 3 councillor Renaldo Agostino feels a Ferris wheel is a no-brainer and has asked city administration to look into the possibility of one in a parking lot along the river front in downtown Windsor.
A person from Windsor has died in a collision on Highway 59 in Oxford County.
A road in Essex County has reopened following a multi-vehicle crash. According to OPP, County Road 20 had been closed between Iler road and McCormick Road in Harrow.
A city councillor in British Columbia says an online mob of "extremists" and "politically motivated hackers" is responsible for uncovering and publicizing a photo of him wearing a blackface costume to a Halloween party in 2007.
Less than one month before voters cast their ballots in the provincial election, a new poll of British Columbians shows half of respondents fear for their safety in their own communities.
A boater was rescued on Monday evening after spending three hours in the frigid waters off Vancouver Island.
A pair of runaway pigs are in the custody of an animal sanctuary in the Okanagan after evading police and volunteers for hours earlier this week.
The Red Bridge, a historic landmark in Kamloops, B.C., was completely destroyed by fire early Thursday morning.
Animal protection officers in British Columbia have rescued three pit bulls – including one that gave birth to 10 puppies – from a rat-infested home in Kelowna.
Dozens of police officers and support workers have come to Lethbridge for the Social Disorder and Urban Crime Conference.
Police are looking to the public for help after thieves broke into a Lethbridge ice creamery, stealing from the store.
To make higher education an easier step to take for Indigenous students, the University of Lethbridge is dropping some fees for those applicants.
A 25-year-old suspect was charged with impaired driving Sept. 21 after police spotted two people without helmets on an ATV on Sand Bay Road in Goulais River.
A federal offender who was last seen in Sudbury is wanted on a Canada-wide warrant for allegedly breaching his statutory release conditions.
The Crown's key witness in the sexual assault trial against former Hedley frontman Jacob Hoggard will take the stand in a northern Ontario courtroom Tuesday afternoon following the judge's instructions to the jury.
Newfoundland and Labrador sponsored a minor football team in England, now they’re about to play one of the biggest clubs in European soccer.
Newfoundland and Labrador's chief medical officer is monitoring the rise of whooping cough infections across the province as cases of the highly contagious disease continue to grow across Canada.
A 16-year-old biennial event aimed at fostering business in the country's eastern Arctic and northern regions has been cancelled indefinitely as a dispute unfolds between Inuit in Canada and a Labrador group claiming to share their heritage.
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