Theft or mistakes? Bankman-Fried jurors hear competing explanations for FTX collapse ...Middle East

Sam Bankman-Fried's lawyers and federal prosecutors clashed on Wednesday in opening statements over whether the former billionaire's FTX cryptocurrency exchange collapsed due to "massive" fraud by its founder or errors in business judgment. Bankman-Fried, 31, has pleaded not guilty to charges he used FTX customer money from the exchange's 2019 launch until its November 2022 bankruptcy in order to prop up his hedge fund, Alameda Research, buy luxury real estate, and donate to U.S. political campaigns and candidates. The trial kicked off with jury selection on Tuesday, nearly a year after the collapse of FTX shocked financial markets and tarnished the budding entrepreneur and philanthropist's

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