SBF Cross Examination: Prosecution Brings Receipts - SBF on Trial Day 15
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- Опубліковано 8 вер 2024
- Overpriced JPEGs - Courthouse Edition!
In today's courtroom drama, Sam got cross-examined by the prosecution and it... was... hard to adequately describe? The consensus is that Sam did not do well. Though the prosecution didn't manage to get him to outright admit anything, that's mostly because he wouldn't admit anything. This man, apparently, does not recall a single moment of his life between 2021 and 2023.
I also provide a dramatic reading of the actual transcript of today so you can feel for yourself what it was like to be in the room as prosecutor, Danielle Sassoon, questioned SBF.
@carlypreilly on Twitter
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He remembered everything in detail when under his lawyers' questions, but suddenly has no recollection of anything or having amnesia under cross examination? Yep, not believable.
Regardless of the margin argument, FTX "loaned" Alameda customer funds, and used customer funds for other expenses, to the tune of billions of dollars, that's the crime. They stole customer money.
Correct. People make it more than it is. He is not that smart, to be honest. It was plain fraud by lying to customers. There’s no skill to that. Promise A and do B, without having actual guardrails for WHEN, not if, goes south. He’s an entitled brat that should not see the light of day again in his life.
CoffeeZilla has already establish the fact that there are customers who use FTX as a bank account and don't do margin trading and still have lost their money. This is guilty and the prosecution is falling into this guys rabbit hole of margin trading argument.
@@mrvietdaono, they are not. He got obliterated today.
A non tech savvy jury will not be impressed by how skillful he can deflect questions and win semantic arguments. It only proves what a slippery character he is, why he would want to have a complex and disorganized company where internal messages are auto deleted.
I agree, and I’m sure it’s off putting to the jury. Sam is on a spectrum, and when he was rich and throwing money around people liked, he’s likely got it in his head that people do still think that way but he couldn’t be more wrong.
I could see this going the other way, where one or more jurors just punts 'not guilty' because they're so frickin' confused. Sam has thrown enough chaff and blown enough smoke to potentially make that happen.
@@tomsanders5584I’m bracing for this outcome, the fact that everyone thinks a guilty verdict is a slam dunk makes me think it goes another way.
I was just looking at your latest like one minute ago and wondering where is Carly's latest video?! Is she asleep on the job? Where is our daily fix? And then I went to main UA-cam page and here this is. "Uploaded 40 seconds ago". Perfect timing.
We all were 😄
If Sam gets $1 for every time he doesn't "remember, recall, or know", he would be able to pay back all the money he stole.
That’s a good metric to use 😂
The dude went to MIT - He is not "absent-minded"
I'm having so much fun enjoying this trial through Carly's eyes and narratives. Most of the trial reporting on UA-cam is so dry and boring, while Carly's is like coffee on steroids.
Couldn't agree More 👊✌️😉
🙏
Haha, yes! Coffee and amphetamines is what it feels like to me! xD
Yes!!!! Beautifully stated!!!!!
She’s absolutely my fav!!
You and Tiffany should do another collab. Love following you guys!
phack tiffany , she is garbage , jpegs is life!
Tiff is the competition. (just joking) :)
@kc9611It's been used like that for like seventy years, it's fine
And a speed talking contest against Ben Shapiro.
Yep. Both are extremely bright and insightful. I religiously watch both. I don't see them as competition. Each makes me so interested in the case that I seek out more info after watching one of their videos. My guess is that they both raise each other's number of views by heightening the general public interest in the case.
I always feel like I was really there, my nose pressed against the window looking in on the trial after one of your recaps. You keep it conversational yet cover all the relevant technical stuff very thoroughly. Great work as usual!
I look forward to hearing your take on the trial each day. Keep up the good work!
Thank you for hammering on that FTT nonsense, not enough people call it out as often as they should!
yeah ftt is nonsense but then she promotes opensea and eth centralized scams that exists only to deceive people for profit. imagine choosing to be a scammer and then "hammering" another scam like you'd know better.
When Martin Shkreli did the math when Sam got arrested, I had a hard time believing he would face that much prison time. I now see how wrong I was.
If SBF would have kept his mouth shut and pleaded guilty he wouldn't have served a day in club fed and his buddies in Washington would have drafted a silent pardon but Sam wanted to try to worm his way out of his awful reputation so here we are. A very public trial.
@@jerm70 When they have your tweets as evidence, you have a bullet hole in your foot.
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This is very impressive , meeting Craig Reeder has been a blessing , I never thought I would make so much profits in such a considerably brief period of time.
I’m a 66 year old dude and I find myself getting excited to hear Carly dish. She is infectious and so entertaining.
Thank you so much!!
The damage of what it sounds like occurred today....is the sentencing. The judge will now lean toward the higher limits. He was getting convicted anyway but now he will do much much more time.
FTT only had value because Alameda bought it with customer funds to inflate the price.
This has been the only YT commentary about this trial that I have found consistently informative and entertaining-and your assessments always seem spot on. So thanks for the great work!
My only comment about your description of his cross-examination today is that the prosecution is showing that if he can't even agree or confirm the basic factual information they ask him about that is clearly supported by the record of interviews and statements they put in front of him and the jury, and he constantly prevaricates, it makes the rest of his testimony (including the one given during questioning by the defense) seem questionable, and that he can only be straightforward when it's beneficial.
Thanks for the update, I can't see having sympathy for someone who stole from millions of people and is having to answer for his actions. I just feel like sympathy for Sam could easily be construed as contempt for the victims.
She is being payed by SBF... that's why she is sympathetic...
I don't know WHY anyone would have sympathy for that thief
I love seeing Sam, Elizabeth Holmes, even Jodi Arias being made to look like complete fools on the stand.
NEVER underestimate the stupidity of a jury.
They let Casey Anthony walk.
JPEG, do you expect SBF's parents to be indicted?
The whole family are guilty of recieving stolen funds... give it back and goto jail now.
You have, by far, the best recap videos of this trial.
It's so funny that on Friday he had a different memory of important events than everyone else who testified, and on Monday he cannot remember anything at all from the same time period. Does he not understand how entirely unreliable he is making himself look as a witness? 😂
I would love to hear from Sam whose money he thinks he used to fund his TWO BILLION dollar loan
"I do not recall, and I used it to margin trade adderall"
Thanks Carly!!
He has to pretend consistently like he can’t remember things or otherwise his story will not sound genuine when he says he doesn’t remember certain key details
The real crime is that his testimony wasn't filmed. Humanity has been deprived of many epic memes. We will have to read the transcript and animate them.
Fantastic coverage,,,Congratulations Carly!!!
Crypto critics corner is great on this. They are having most of the reporters on as guests. Really excellent tidbits and juicy hunks of info. Sam’s going down hard. And to me it’s still mind blowing bc it’s like why, Sam? Why?
he's an ethtard and since eth is a scam all promoters of eth were obviously psycopaths and illiterate scammers, exceptions are literally impossible since all it required is ability to count 1 party in control being of them being less than multiple parties in control, i.e. grade 1 math
Your typical juror will be too busy wondering by what means they would execute SBF if they could to be bothered with the existential nuances of his personal emotions.
By far the best coverage of the trial. Thank you
Will his parents who clearly were involved in the business, face any charges?
Yay! Been waiting all night for this! Woot! Thank you, Carly!
Yaaaasss, I woke up hoping you got in there! I can imagine much more people wanted to get in, for the star cross. Love having my morning water listening to you :D
I always forget when I've flown on a private jet. Oh, wait ... I've never flown on a private jet.
Yeah classic mix up. So easy to forget
Fantastic coverage. The coverage of this trial is, in and of itself, an historic event that sets new standards for communication. Congratulations Carly!!!
Thanks so much - glad you’re enjoying it :)
This is very simple; he can't remember all his lies.
“Criminal CEO” - perfect descriptor! He’s the Saul Goodman of CEO’s, yo
The defense strategy appears to be to try to convince the jurors that Bankman-Fried is cognitively impaired, with very little long-term memory. I wonder if this is his defense attorneys' idea or his own idea.
It sounds like Sam's lawyers did not prepare him for being cross examined. His lawyers should have been drilling him the entire weekend in preparation to being questioned.
Your update is literally what I’ve been looking forward to all day!
I hope the jury sees the trial outcome like you.
I love the enthusiasm with which you present your analysis.
Amazing summary! I'm not into any of this, but I came across your channel and now I'm hooked. Great charisma, excellent and easy to understand breakdown, and I love your eyes! Looking forward to many more!
Thanks so much! Glad you’re enjoying it
Whoa! Doesn’t remember the private plane! …. He’s digging himself deeper down …wtf.
thanks for this coverage. so good
i'm so glad you're enjoying it!!
I hope the Prosecution asks him how much he has donated to charities or other causes.
Do his parents count?
Great Work!
This is the best coverage! I think you have something with the lend or if SBF had cashed out of FTT tokens and used cash to support Alameda it would have crashed the token. So he risked it thinking he could get away with sustaining the token’s value. Sort of the crux of his motivation. 😂
Was concerned when I didn’t see your post last night. Glad you are ok.
I drive a Carolla as the overhead on my fleet of private jets is really quite astonishing!
Carly...I've been waiting ALL day to hear your take on today's cross...Love your play by play, and that while you are sympathetic to Sam, you present the bigger picture. Thank you...great recap today.
Love your insight. I can listen to your commentary all day. Your doing such an amazing job.
Just a shoutout to Carly: Your coverage of this trial is, hands down, the best. Your coverage is the most informative, in depth (while still being nuanced) and entertaining I've found. You have immense talent!!
I really appreciate this - thank you so much for watching :)
Doing an awesome job reporting on this epic trial. I look forward to your updates every day. Agree 100% that the FTT holdings could never have been used as collateral. Also loved your impression of SBF. Keep up the great work.
Thanks so much! Glad you’re enjoying it!
Sam isn't the first person who claims to not remember their crimes at a trial.
First
Yay!
Very insightful perspective
I'm surprised there has been no mention about SBF's reason for hiring Daniel Friedberg as the FTX lawyer. I mean, we all know it's so Daniel could advise on all the criminal activity that was going on. I guess SBF would just say he was unaware of Daniel's shady past. 😂
Well indirectly he was mentioned. Did you hear Sam had the first day testifying without the jury present? That was to sort out whether he could admit this advice of counsel defense so he would have been arguing we can imagine or infer that Daniel friedberg put his thumb up or whatever “blessing” sams blatantly illegal scheme and because Daniel was a lawyer, Sam would argue it was ok. Ofc Sam hired Daniel because of his shady past. I think the idea is if you go to a corrupt lawyer and ask them if embezzling is ok and they say yes it’s predjudicial or whatever. Anyway the law from what I understood had provisions because this is common enough to be already thought of though hundreds of years of legal cases and it was basically inadmissible, hence no mention anymore of Daniel.
With their level of drugs, I wouldn't also remember a freakin thing. I wonder what were in those amazon box on a private plane? kidneys?
You are nailing this coverage!
thanks for so clear update just enjoyed it...
GIRL, Thank you again so much for your time , because your videos are great!
I’m so glad you’re enjoying them!
Let's remember that the guy is currently on his high dose Adderall.
That Adderall is amphetamine. And that amphetamine quite definitely has a reputation for turning people into assholes!!
However, that is not to suggest that he wasn't an asshole right from the start.
I think it amplifies who he is
That's very likely. It dials people up to 11 !!!@@KikiNation1
Thank you Greg
you cant beat this reporting
Carly, Where is scam Sam's brother? Is Sam's brother in the court room with his parents? Has ANYONE seen the brother Gabriel lately? Thanks for any help or answers.
No one who answers questions the way he does can be as out of touch with how his company was being run as he said. You need to be really aware to do that.
Thank You, Carly! Love ya!
it's almost like Sam was raised by lawyers or something
Most people are not into symantics. I know they just see the big picture of is he lying or being truthful. The big picture is its 8 billion dollars of customer money and they have to decide if there was intent. Any normal person can see he is lying. Did he know it was customer money and it was very risky? Absolutely. He is showing a personality of someone nobody can trust.
I don't think they need intent. He did illegal things. Making him look like a scumbag is just bonus points.
he promoted scams like eth, just like this girl did in the video, that alone deserves infinite prison time. they both chose to promote scams that exist only to deceive people for profit on basic safety specs like decentralization which premine scams do not have, no exceptions. disgusting scammers like ethtards are allowed to breathe
Great reporting, thank you.
He's trying to tell the world that he's innocent. Meanwhile he didn't recall what he's actually did in the first place.
Great way of viewing and explanation. Like coffee with extra turbo
21:21 You are missing that the FTT's that Alameda was posting to FTX were ill-gotten to begin with. They were somehow 'given' to Alameda to use as collateral for their loans from FTX. That is how I understand it from some explanation, long ago. Also, I believe that the FTT''s were worthless, anyway.
Yeah when FTT was created, Alameda got a huge percentage of tokens for free. You’re right about that!
I watched coffeezilla's efforts to pin him down in interviews, and thought "SBF sounds more guilty every time I hear him evade and redirect." I hope the prosecutors/jurors are more savvy than the journalists that bought into his image-rehabilitation interview tour.
I definitely think he sounded evasive and like he was lying on the stand and my guess is the jury felt that way too
Thanks Carly for the updates, I’m really enjoying your reporting of this and I have watched many different breakdowns but yours is by far the cleanest and my favourite
Oh rigth did we have a private plane
I really appreciate your excellent coverage. Great work!
I do hope Carly can find a role here on UA-cam beyond NFTs. That ship is clearly sinking, and it would be a pity to lose her with it. Maybe court reporting is way forward. Heaven knows, crypto leaves a lot of courts and jails in its wake....
I will definitely be broadening my horizons post trial :) stay tuned!
@@TheCPRshow Very welcome news!
The SBF content is great for the look on your face alone.
I have to pause these along the way (something on the stove, etc.) and the looks are world class!
Good recap
Thanks so much Carly - your command of the English language is spectacular! 👍😁
Wow thanks a lot! Appreciate it :)
I think FTT was meant to be a sort of end run around accounting rules, but it's pretty transparently just value created out of thin air, which you would think makes it legally fraud. Not sure about the law around that, though. Is it possible that might be a technicality that could lossen the screws?
I LOVE the OpenSea commercial. No mention of NFTs not being worth the time it took me to type this sentence. Also the heartfelt testimony about “trusting OpenSea’s security” features. “I stole this artist’s artwork FIRST! It’s now MY NFT!”
As for your take on Fried, he really should’ve listened to counsel and NOT TESTIFIED. If his team isn’t doing well, have his parents mortgage the estate his stolen funds bought for them, and pull a Trump and hire a new team.
The “technical raptor” is awesome, please do that more..😂
There are many ways to tell the truth, but only one way to lie. That's the title of my first album. At least three of the songs are about SBF. ;-)
Reporter doesn't show up to court, but is writing an article about the trial. Sounds about right for our "reputable" media.
Love your reporting. You have a very engaging and structured way of presenting the elements brought up in the trial. Makes for a compelling storyline.
Let's get our terms straight. Margins are loans. I personally hate being indebted. Loans or margins can be helpful i.e., buying a house. Took out a 30-year loan to buy my house and paid it back it 20. I don't owe anyone anything and that's a good feeling.
Carly, i appreciate your take … this vid or the last. you broke down the critical minute / tiny and incredibly important details regarding … in effect … whether alamedas margin position can be be interpreted as a margin loan, with posted collateral which case it doesn’t matter how Alameda used the margin funds including to pay creditors. in theory if alameda is allowed to take the margin loan, for whatever, reason , snd using posted collateral, the loan is OK per the routine structure of margin loans where people using margin may have agreed to socialize losses. BUT IS ALSO subject yo clawback if it fails … interesting and brilliant insight!!!!! keep em coming!
Sounds like Sam played the prosecution like they were League of Legends.
Yet another great update!
In my experience there are two types of CEO. Ones who know the company data in detail and ones who hire people to brief them regularly on the data. Sam's not CEO material. He also needs to see a neurological expert on his memory loss which seems linked to court appearances.
The only slack I'd cut him is it's more daunting to be cross-examined than people think even if you're innocent (unlikely in Sam's case).
But remember he's basically a confidence trickster - obfusticsation , subject changing, and not directly answering are his bread and butter.
@@tonyug113 As soon as a company goes offshore I raise my eyebrows. It's usually a sign of dubious intent.
@@bmill7353 Well also self deleting texts as the company communications method , and a company structure that is spaggetti on drugs, as well as a systemised politician bribe methodology. poor kid (30yo ) over his head just dont cut it its all image manipulation
Can we talk about how the courtroom sketch artist made the Bankman-Fraud look like Brad Pitt in his prime?
I literally thought it was fake when I first saw it. I’m still not convinced that was a real courtroom sketch because… what!?
I'm really afraid the jury is going to see this as everyone betting at a casino and losing.
Thank you so much for your updates & analysis Carly. You are brilliant!
The prosecution has shaped the way we interpret the facts, so that Bankman-Fried's defenses appear to be just excuses. But here and there, intriguing arguments that BF might have used came out during the trial. For example, what if an economics or business-school professor has supported BF's argument that FTX was a market maker, so that it or Alameda, legitimately had a responsibility to stabilize the cryptocurrency market?
Also, hardly anybody has asked why a hedge fund like Alameda performed so poorly that it lost $8 billion. Investing profitably is what a hedge fund is supposed to be good at. With that question in mind, BF's argument that Ellison didn't hedge Alameda's investments properly becomes more credible, because it may explain, or partially explain, Alameda's poor performance. Experts with impressive credentials, again, might have hammered that point home.
It looks as if BF is going to lose at trial. But had his defense team supplied strong alternate explanations of why things turned out the way they did, maybe BF could have avoided criminal liability.
I'd have loved to feel sorry for this guy, thinking he's maybe just so autistic that he doesn't understand the world around him.
But those constant evasive "can't recall" are a clear sign to me that he knows exactly what he did.
Great reporting Carly, thank you so much!
The prosecutor risks over playing her hand appearing as a big bully. This whole trial has been about Sam breaking every possible business rule. There is no reason to think he cared anything about following standard practices. The government has to prove his actions were done willfully and knowingly. Most of us consider Sam guilty as charged. The jury has to prove seven counts beyond a reasonable doubt. If I was betting on the outcome, I would take the "under". He will be convicted for under seven counts.
Bill Clinton taught him the I don’t recall card