Gary

Coin

<ul class="news-points"> 
 <li><strong>Alameda’s $65 billion line of credit on FTX is a “devastating fact for the defense,” according to Brian Klein.</strong></li> 
 <li><strong>Sam Bankman-Fried’s defense attempted to justify the amount and claimed that SBF thought it was “reasonable” for Alameda to borrow.</strong></li> 
 <li><strong>Klein stated that even if the jury didn’t remember all the financial terms, they would remember the $65 billion.</strong></li> 
</ul> 
<p>In the ongoing trial of <a href="https://coinedition.com/tag/bankman-Fried/">Sam Bankman-Fried</a>, former CEO of FTX, Gary Wang, former CTO, revealed that Alameda Research has a $65 billion line of credit on FTX. Crypto journalist Laura Shin hosted Sam Enzer, partner at Cahill Gordon and Reindel, and Brian Klein, partner at Waymaker, to discuss Wang’s testimony and how it could damage the defense.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4b0.png" alt="💰" class="wp-smiley" style="height: 1em; max-height: 1em;"> In former FTX CTO Gary Wang’s bombshell testimony, he revealed that Alameda had a $65 billion line of credit on FTX. <a href="https://twitter.com/brianeklein?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">@brianeklein</a> and Sam Enzer explain why that number is a “devastating” fact for the defense.<br><br><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f50a.png" alt="🔊" class="wp-smiley" style="height: 1em; max-height: 1em;">Full episode: <a href="https://t.co/DGrLC50h66" target="_blank" rel="nofollow">https://t.co/DGrLC50h66</a> <a href="https://t.co/KNM6Zkqbva" target="_blank" rel="nofollow">pic.twitter.com/KNM6Zkqbva</a></p>— Laura Shin (@laurashin) <a href="https://twitter.com/laurashin/status/1711497183046901962?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">October 9, 2023</a>
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<p>Wang’s testimony revealed to the court that Bankman-Fried, Nashad Singh, Caroline Ellison, and Wang himself were involved in <a href="https://coinedition.com/sam-bankman-frieds-trial-ftx-co-founder-admits-to-financial-fraud/">committ…</a></p>
<p>The post <a rel="nofollow" href="https://coinedition.com/understanding-the-65b-line-of-credit-key-testimony-in-sbf-trial/">Understanding the $65B Line of Credit: Key Testimony in SBF Trial</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.</p>

Understanding the $65B Line of Credit: Key Testimony in SBF Trial

Coin Edition

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