According to today's testimony, US prosecutors asked SBF: "Did you decide to invest billions of dollars in risk in 2021 and 2022?" SBF responded: "I think several billion dollars were my decision." SBF also admitted that he decided to invest billions of dollars in risk even before Alameda was ultimately hedged. Crunchbase data shows that FTX Ventures has invested in nearly 70 startups.

SBF stated in court on Monday that Alameda has a credit limit of $65 billion on FTX, while the second-highest customer has a credit limit of $150 million. In addition, US Assistant Prosecutor Danielle Sassoon asked: Does Alameda have more than $64 billion in credit limit than any other customer? SBF replied: Yes. The judge asked again: Has Alameda been allowed to exceed FTX's normal borrowing limit since the early days of FTX? SBF replied: I'm not sure.

According to the Wall Street Journal, SBF admitted in Monday's hearing that some crypto companies have special privileges on FTX. When asked by prosecutors if FTX customers could use their equity in external investments as collateral for the exchange, SBF said that a company called Crypto Lotus could do so, which is associated with Three Arrows Capital.

SBF stated in court on Monday that it owns 90% of Alameda's shares and, in a sense, did not participate in Alameda's transactions, but has continued to receive information about Alameda since 22.

AP_Abacus posted on social media that based on yesterday's testimony from SBF, some lawyers have raised their minimum sentencing expectations. Lawyers expect SBF's sentence to be no less than 40 years. "This guy was lying until the end."

On October 28th, SBF testified in court on Friday and stated that DCG CEO Barry Silbert requested equity capital for DCG's Genesis subsidiary during last year's cryptocurrency market downturn. The bankruptcy of cryptocurrency hedge fund Three Arrows Capital dealt a heavy blow to Genesis, causing significant losses. Cryptocurrency trading platform and lending institution Celsius also once hoped that SBF could provide emergency funding, but SBF rejected the request. Currently, neither DCG nor Celsius has commented on the statement.

SBF revealed during his criminal trial testimony that he began buying SOL very early on, at a price of $0.20 per coin. Regarding how he paid for his investment costs, he stated during questioning by his lawyer that the funds came from Alameda's operating profits and third-party loans. Due to the close relationship between SOL and SBF, SOL was once referred to as "Sam Coin". He and FTX made significant investments in the Solana ecosystem and heavily promoted the Solana brand before FTX went bankrupt in November of last year. According to the OKX market data from Europe, SOL reached its all-time high of $259.69 USDT in November 2021. SOL is currently trading at $31.846 USDT, with a 24-hour decrease of 2.12%. 

SBF testified on Friday that during the early stages of FTX, he had planned to sell the company to Binance, partly because he was worried he would not be able to successfully recruit clients. SBF believed that FTX could be developed into a place specifically for margin traders to provide services, and at that time, there were basically no companies in the industry doing this business, so he expected exchanges like Binance might be interested in purchasing FTX. SBF told the jury that he eventually became confident that he could develop FTX well, even though he believed there was only a 20% chance of success for his exchange. He said, "Considering that the largest exchanges at the time were companies worth tens of billions of dollars, even a 20% chance is a huge opportunity." SBF said FTX's revenue in 2019 was as high as $20 million. By 2021, FTX's daily revenue reached $3 million. (Decrypt) On October 19th, the US Department of Justice hired Peter Easton, an accounting professor at the University of Notre Dame, to track the billions of dollars of funds between Alameda and FTX. The professor testified at the SBF trial hearing that in 2022, FTX used customer funds to repurchase all of the shares it held in Binance, with over $1 billion coming from FTX's customer funds. Easton testified that user deposits were also reinvested in enterprises and real estate, used for political donations, and donated to charities. Previously, in 2019, as part of a strategic partnership between the two companies, Binance invested an undisclosed amount of funds in FTX. Binance CEO CZ stated in a 2022 article that as part of the repurchase, the company received over $2.1 billion in BUSD and FTX's FTT tokens.

FTX founder Sam Bankman-Fried testified today that his biggest mistake at FTX was not establishing a dedicated risk management team and chief risk officer. As a result, there was no regulation of bankrupt cryptocurrency exchanges. When his lawyer Mark Cohen asked if FTX had a risk management team during rapid growth, Bankman-Fried said, "Of course we should have, but we didn't."

Sam Bankman-Fried stated in court that he had a conversation with FTX's former CTO Gary Wang and Engineering Director Nishad Singh about how to prevent Alameda Research's account on the exchange from being incorrectly liquidated after some issues arose with FTX's risk management feature. He said that Gary Wang and Nishad Singh later told him that a fix had been implemented, but he did not know the specifics and stated, "I wasn't aware of the details at the time". SBF told the jury that he later learned that this meant Alameda's balance could potentially become negative.