No Way Jose FTX’s Former General Counsel Firmly Denies Approving Loans of Customer Funds

FTX's Former General Counsel Denies Authorizing Loans of Customer Funds Absolutely Not

FTX’s General Counsel Shrugs Off Lending Shenanigans in Hilarious Fraud Trial

Disclaimer: The following content is a playful interpretation of a serious legal event. Enjoy the ride, buckle up!

Yo, fellow digital asset investors! Get ready to dive into the wild world of crypto drama. Just imagine it as “Game of Thrones,” but with Bitcoin instead of dragons. So, here’s the scoop: The general counsel of FTX, Can Sun, spilled the beans during Sam Bankman-Fried’s criminal fraud trial, and let me tell you, it was a rollercoaster of denial and confusion.

According to Can Sun, he never approved the crazy scheme of lending FTX customer funds to its sister firm, Alameda Research. He basically yelled, “Absolutely not!” when asked if he signed off on that questionable exchange of funds. Can you believe it? Sounds like a classic case of passing the blame, am I right?

Now, hold your horses, because this is just the tip of the iceberg. Can Sun testified that he genuinely believed FTX was all about keeping customer funds separate from their own. Apparently, he had a few “heart-to-heart” conversations with Bankman-Fried that left him convinced. I can’t help but picture them sipping coffee, whispering secrets, and plotting world domination. Oh, the drama!

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But wait, there’s more! Assistant U.S. Attorney Danielle Sassoon decided to go all Sherlock Holmes on Can Sun’s testimony. She pulled out FTX’s terms of service and other public statements to support the Department of Justice’s thesis that FTX was playing fast and loose with customer funds. The plot thickens! These documents clearly stated that FTX’s funds were to be “ring-fenced” from the customers’. Now, I don’t particularly enjoy the sport of fencing, but in this case, I’m all in for a good ol’ ring-fenced showdown!

To make matters even juicier, Can Sun testified under a non-prosecution agreement, which basically means he gets a free pass for dishing out the dirt. Oh, the perks of being a key witness! Now, things took a turn when Can Sun claimed his loan records didn’t match a document the DOJ showed him. It’s like playing a game of “Spot the Difference” but with legal documents—never a dull moment, folks!

Throughout his theatrical testimony, Can Sun kept emphasizing that he was completely unaware of any customer funds involved in these loans. Innocent or simply oblivious? We’ll leave that for you to decide, dear readers. But one thing’s for sure, this trial has more twists and turns than a crypto rollercoaster.

So, buckle up and stay tuned, because this developing story promises to deliver more adrenaline-pumping sagas. Don’t miss out on the latest updates! Check out CoinDesk’s SBF trial coverage here. And remember, in the world of crypto, truth is stranger than fiction. Happy investing, everyone!

Image: Can Sun, former FTX general counsel, leaves a New York courthouse after testifying against Sam Bankman-Fried on Oct. 19, 2023. (Nik De/CoinDesk)

PS: What do you think, dear readers? Is Can Sun just a pawn in this crypto chess game, or is he the missing piece of the puzzle? Let us know in the comments below!

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