.ZeeshanAleem: Things have been going poorly for Sam Bankman-Fried lately. And they’re only getting worse.
Bankman-Fried, said she was “truly sorry” for defrauding customers and investors, the Times reported.This is devastating news for Bankman-Fried. These developments put him in a much more vulnerable legal position, and could tear apart his defense that his alleged misbehavior at the helm of FTX was an unintentional mistake.
His platform FTX imploded after a report emerged indicating that he may have been inappropriately misusing his customers’ funds for trading at Alameda Research, a crypto hedge fund he co-founded. That allegation was giant red flag.in November,"That’s a conflict of interest. One exists to provide a service for customers, the other exists to make a profit.
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