| Bankman-Fried
Says He Wanted
to Impact the
World But
Surprised by
$8 Billion
Hole
by
Matthew Russell Lee,
Patreon Book
Substack
SDNY COURTHOUSE,
Oct 27 – For US v Sam
Bankman-Fried, after more than
a day of jury selection, late
morning on October 4 the
twelve and six alternate were
selected. Inner City Press
live tweeted the voir dire here
and more below
On October 27,
SBF was on the stand all day.
Inner City Press live tweeted,
including thread
Cohen: Why did
you where the shorts and
T-shirts? SBF: I found them
comfortable. Cohen: Why the
long hair? SBF: I was lazy.
Cohen: Who
is in this photo: SBF: Katy
Perry, Michael Kives, Kate
Hudson and me. We were running
a Super Bowl ad.
Cohen: When had
you met Michael Kives? SBF: It
was Kives' and I had been
wandering the stadium, I ran
into them and they invited me
in
Cohen: Did
you invest in Kives' K5? SBF:
Yes. I thought they had
promising incubations. And
celebrity contacts. Cohen: Did
you want to contribute to
candidates? SBF: Yes. In 2020,
then more in 2021 and 2022.
Cohen: Why? SBF: I thought I
could impact the world
SBF: I was
interested in pandemic
prevention. So I thought
policy was important, Congres
and the Executive Branch. Some
were by FTX for crypto
currency lobbying - some, not
most. Cohen: The crypto
lobbying was for? SBF: A US
regulatory structure
Cohen: Who
else made donations? SBF:
Nishad and Ryan Salame? Cohen:
Did you discuss them with Mr.
Salame [he pronounces it
Salaam]? SBF: No. Cohen: Your
donations were from? SBF:
Loans from Alameda research.
Cohen: Did
you work with political
consultants? SBF: Yes. I had a
full time job. So I hired
them. Cohen: Did you know
Michael Sadowsky? SBF: He, of
Guarding Against Pandemics.
Cohen: What about
Congressmembers? SBF: I
discussed crypto and other
issuesCohen: Did you testify
to Congress?
SBF: Late 2021,
and early 2022 and one in late
Spring early Summer of 2022.
The House Financial Services
Committee invited me. I
declined. They invited more
strongly and I accepted. Then
Agriculture, about the CFTC.
SBF: Then
Agriculture had a hearing
about our application to the
CFTC. Our competitors were --
AUSA: Sassoon: Objection. No
foundation. Judge Kaplan:
Sustained. Cohen: New topic.
Are you familiar with EcoSerum
and SRM? SBF: Yes. I spoke
with Nishad about it
SBF: I
spoke with them about if our
2021 revenue was in fact over
$1 billion. Cohen: Why was
that important? SBF: It's a
round number.
Cohen: Why
did FTX use Slack and Signal?
SBF: They are
conversational. Cohen:
What is encryption? SBF: It's
like in World War II... on the
Internet, it's about only the
sender and receiver seeing the
message. We thought it
was good.
AUSA Sassoon:
Objection - who is "we"? SBF:
I am sorry, I meant me, I
often say "we" to not single
myself out from other
employees. Cohen: What about
records retention? SBF: Some
had to be kept, some should be
not kept, and then those in
the middle.
Cohen: What
about these calls? SBF: We had
on Dan Friedberg.. and Brett
Harrison.
More on
Substack here
Inner City
Press live tweeted the voir
dire and now, more on Substack
here
and all on Patreon here
***
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