“I haven’t seen it, I don’t know and I don’t remember”, FTX founder says he looks like a ‘Kamikaze’ in a suit and tie

When we think of legal proceedings involving big names, no one imagines scenes worthy of a lost episode of “Better Call Saul.” But that’s exactly what happens Sam Bankman-Fried (SBF), the infamous founder of real estate agents FTX.

The trial, which began on October 3, became one of the most talked about topics in the financial world because it resembled a series that mixed ‘Law & Order’ with ‘The Office’, as the 31-year-old led, on surprise several occasions the court, the prosecutor and even your lawyers.

According to the website Protos, Sam Bankman-Fried’s initial testimony during his own criminal trial was worse than anyone could have expected.

According to the website, the former CEO of the cryptocurrency brokerage that stole money from millions of customers contradicted himself, mumbled like a child, avoided questions by making awkward pauses and often said he “didn’t remember” details that could decide his future.

In the spotlight is Assistant US Attorney Danielle Sassoon, whose interrogative style has been likened to a pit bull, who continually manages to dismantle SBF’s defense.

Sam Bankman-Fried: The ‘Kamikaze’ in suit and tie

What has elevated the process to ‘must-watch’ status are the unexpected moments that Sam Bankman-Fried himself provided.

In a particularly comical scene, described by attorneys narrating the trial, Sam, in a decision that can best be described as a clear lack of preparation in his defense, answered a question he explicitly did not have to.

His own lawyers were shocked in a rare moment of agreement with the rest of us.

Lawyer: Do you think you should not have embezzled customers’ money?
Defense: I protest against your honor.
Right: Steady.
SBF: No, I don’t think I should have done that.
Lawyer: You don’t have to respond after it has been sustained.
SBF: I felt I had to respond.

AUSA: What about stock exchange CEOs who use client funds for personal expenses?
Cohen: Objection.
Judge Kaplan: Maintained in form.
AUSA: Did you have a conversation that made you believe it was right?
SBF: We talked about margin calls

— Binnenstadspers (@innercitypress) October 26, 2023

As the drama unfolds, SBF is labeled a ‘kamikaze’. For those unfamiliar with the term, it refers to World War II Japanese pilots who flew suicide missions against enemy targets.

Although his actual effectiveness in warfare has been exaggerated, the idea behind Sam’s kamikaze defense seems to be the following: When I go into the hole, I take as much as I can with me.

Trapped, confused and angry, Sam is described as a 31-year-old man who throws tantrums. However, the businessman’s kamikaze defense is sure to cause some collateral damage, and in his testimony on Thursday (26), he pointed fingers at:

• Your former lawyers Dan Friedberg It is Can sun (for writing terms of service and getting you to sign contracts you haven’t read);
• His former employer, Jane Street (stating that the company had a habit of telling its employees to delete chats and use Signal);
• Your old friends It is FTX colleagues (he named people who were in the same BUILDING – not the same room – as him, in an attempt to implicate them in crimes).

So far, this strategy has included attempts to drag down his former lawyers, former employers and FTX colleagues. And while these moves may have the effect of shaking up the proceedings, they don’t seem to further the image of a man trying to convince a jury of his innocence.

Sam is the last witness in his own defense, but he seems to be trying to convince the judge to let him follow his strategy: blame FTX’s lawyers.

In all of this, the question still hangs in the air: How far is Sam Bankman-Fried willing to go? Is he, like the kamikazes, determined to cause as much damage as possible? And what will be the consequences for him and the cryptocurrency industry as a whole?

The verdict of the case promises to be as explosive as the trial itself. In the meantime, we wait for the movie that will show the entire history of FTX in more detail. Because let’s face it: we all need a little comedy in our lives, even if it’s in a federal courtroom.