{"id":175,"date":"2023-10-27T18:55:59","date_gmt":"2023-10-27T18:55:59","guid":{"rendered":"https:\/\/ownbitcoins.net\/blog\/2023\/10\/27\/believing-in-profits-a-defendants-testimony-in-a-cryptocurrency-fraud-trial\/"},"modified":"2023-10-27T18:55:59","modified_gmt":"2023-10-27T18:55:59","slug":"believing-in-profits-a-defendants-testimony-in-a-cryptocurrency-fraud-trial","status":"publish","type":"post","link":"https:\/\/ownbitcoins.net\/blog\/believing-in-profits-a-defendants-testimony-in-a-cryptocurrency-fraud-trial\/","title":{"rendered":"Believing in Profits: A Defendant&#8217;s Testimony in a Cryptocurrency Fraud Trial"},"content":{"rendered":"<h1>Summary of the Article:<\/h1>\n<ul>\n<li>The defendant at a fraud and conspiracy trial testified that he believed the funds for cryptocurrency trading came from Alameda&#8217;s operating profits.<\/li>\n<li>He also claimed that third-party lenders provided some of the funds.<\/li>\n<\/ul>\n<h1>My &#8220;Hot Take&#8221;:<\/h1>\n<h3>Believing in profits, but caught in conspiracy!<\/h3>\n<p>It&#8217;s quite a spectacle when the defendant in a fraud and conspiracy trial claims that he believed the funds for cryptocurrency trading were sourced from operating profits. It seems like he was relying on some creative accounting to justify his actions. But that&#8217;s not all; he also mentioned third-party lenders playing a role. It&#8217;s safe to say that things are getting much more interesting in the cryptocurrency world, and there&#8217;s never a dull moment for those involved in this roller coaster ride.<\/p>\n<p><\/br> Original article: <a href=\"https:\/\/www.coindesk.com\/markets\/2023\/10\/27\/sam-bankman-fried-started-buying-solanas-sol-at-20-cents-using-alameda-profits-he-says-at-his-trial\/?utm_medium=referral&#038;utm_source=rss&#038;utm_campaign=headlines\" target=\"_blank\" rel=\"noopener\">Read here.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Summary of the Article: The defendant at a fraud and conspiracy trial testified that he believed the funds for cryptocurrency trading came from Alameda&#8217;s operating profits. He also claimed that third-party lenders provided some of the funds. My &#8220;Hot Take&#8221;: Believing in profits, but caught in conspiracy! It&#8217;s quite a spectacle when the defendant in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":174,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"pagelayer_contact_templates":[],"_pagelayer_content":"","footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/ownbitcoins.net\/blog\/wp-json\/wp\/v2\/posts\/175"}],"collection":[{"href":"https:\/\/ownbitcoins.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ownbitcoins.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ownbitcoins.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ownbitcoins.net\/blog\/wp-json\/wp\/v2\/comments?post=175"}],"version-history":[{"count":0,"href":"https:\/\/ownbitcoins.net\/blog\/wp-json\/wp\/v2\/posts\/175\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ownbitcoins.net\/blog\/wp-json\/wp\/v2\/media\/174"}],"wp:attachment":[{"href":"https:\/\/ownbitcoins.net\/blog\/wp-json\/wp\/v2\/media?parent=175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ownbitcoins.net\/blog\/wp-json\/wp\/v2\/categories?post=175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ownbitcoins.net\/blog\/wp-json\/wp\/v2\/tags?post=175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}