SBF’s trial is coming to a close — here’s what you missed

Welcome again to Chain Response.

To get a roundup of TechCrunch’s largest and most essential crypto tales delivered to your inbox each Thursday at 12 p.m. PT, subscribe here.

It’s week 5 of the Sam Bankman-Fried trial and rather a lot has occurred for the previous CEO of FTX.

He testified in entrance of jurors, for quite a few days, after doing a listening to testimony with out them current.

Whereas we might have most popular to study extra about what transpired from the person behind the insanity himself, he provided little context, particularly when requested about his prior choices and actions throughout cross-examination with prosecutors. In complete, he said a whole lot of nothing, and yet, everything in his testimony, all at the same time (TC+). Bankman-Fried mentioned “Yup” 372 instances, “Unsure” 117 instances and “I don’t keep in mind” 73 instances, for context.

Now his verdict lies within the arms of 12 jurors, who will decide whether or not Bankman-Fried is responsible of seven prices associated to fraud and cash laundering.

With that mentioned, our crypto protection was all-in on SBF’s trial this previous week, so let’s get into it.

SBF trial

1. SBF’s prosecutors emphasize the case is not about crypto: ‘It’s about lies. It’s about stealing, greed.’ (TC+)
2. Prosecution tries to paint Sam Bankman-Fried as a liar (TC+)
3. SBF’s defense puts forth a 35-minute last-ditch effort to show his goodwill (TC+)
4. Sam Bankman-Fried says he didn’t defraud FTX customers or take their funds (TC+)

The most recent pod

For this week’s episode, Jacquelyn is joined by TechCrunch+ Editor in Chief Alex Wilhelm to debate the tip of the trial for Sam Bankman-Fried, former CEO of FTX, who’s dealing with seven prices associated to fraud and cash laundering.

They talked about:

• SBF’s testimony
• The prosecution’s closing arguments
• The protection’s closing arguments
• Key factors within the case
• What’s subsequent for the trial

Subscribe to Chain Response on Apple Podcasts, Spotify or your favourite pod platform to maintain up with the most recent episodes, and please go away us a overview if you happen to like what you hear!

Observe the cash

1. Modulus raised a $6.3 million seed spherical to deliver AI know-how to dApps
2. Blockchain infrastructure and tooling startup Kana Labs raised $2 million in a seed spherical
3. Surf Protocol raised $3 million to create a perpetual decentralized trade on Coinbase’s Base blockchain
4. Blockchain transaction monitoring platform Vaas raised $2 million in a pre-seed spherical
5. Anapaya Methods raises $2 million from Mysten Labs to construct web3 infrastructure

This checklist was compiled with info from Messari in addition to TechCrunch’s personal reporting.

What else we’re writing

Wish to department out from the world of web3? Listed below are some articles on TechCrunch that caught our consideration this week.

1. A new generation of companies is moving on up in San Francisco
2. For VCs and founders, building in public is about filling the top of the funnel (TC+)
3. Founders: It’s never too early to start planning for your succession (TC+)
4. Don’t be surprised if WeWork files for bankruptcy (TC+)
5. Southeast Asia funding at its lowest level in six years

Observe me on Twitter @Jacqmelinek for breaking crypto information, memes and extra.