Sam Bankman-Fried’s legal team moves to pursue theory on FTX terms of service

According to Bankman-Frieds lawyers, prosecutors intended to call witnesses and establish their “understanding and expectation” of how their deposits at FTX would be utilized. They mentioned statement from Paradigm co-founder Matt Huang, claiming he used his “skilled viewpoint” rather than “everyday lay experience” on FTXs services. BlockFi creator CEO Zac Prince took the stand late on Oct. 12 and into Oct. 13, affirming on a $400-million credit line the company provided to FTX US in July 2022 and the ripples triggered by the collapse of Terraform Labs and Three Arrows Capital.

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According to Bankman-Frieds lawyers, district attorneys planned to call witnesses and establish their “understanding and expectation” of how their deposits at FTX would be utilized. They cited testimony from Paradigm co-founder Matt Huang, declaring he used his “skilled viewpoint” rather than “everyday lay experience” on FTXs services. BlockFi founder CEO Zac Prince took the stand late on Oct. 12 and into Oct. 13, testifying on a $400-million credit line the company offered to FTX United States in July 2022 and the ripples triggered by the collapse of Terraform Labs and Three Arrows Capital.