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Sam Bankman-Fried wraps up testimony as fraud trial nears end

Prosecutors press Bankman-Fried on how Alameda Research, sister hedge fund to FTX exchange, spent $8bn of customer funds

The trial of cryptocurrency’s most infamous entrepreneur is near its end, with closing arguments set to begin on Wednesday.

Sam Bankman-Fried, the founder of the now bankrupt cryptocurrency exchange FTX, stepped down from the witness stand in Manhattan federal court shortly before noon on Tuesday as his cross-examination ended.

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