Understanding the $65B Line of Credit: Key Testimony in SBF Trial

Published 10/10/2023, 16:13
Updated 10/10/2023, 16:15
Understanding the $65B Line of Credit: Key Testimony in SBF Trial
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  • Alameda’s $65 billion line of credit on FTX is a “devastating fact for the defense,” according to Brian Klein.
  • Sam Bankman-Fried’s defense attempted to justify the amount and claimed that SBF thought it was “reasonable” for Alameda to borrow.
  • Klein stated that even if the jury didn’t remember all the financial terms, they would remember the $65 billion.

In the ongoing trial of Sam Bankman-Fried, former CEO of FTX, Gary Wang, former CTO, revealed that Alameda Research has a $65 billion line of credit on FTX. Crypto journalist Laura Shin hosted Sam Enzer, partner at Cahill Gordon and Reindel, and Brian Klein, partner at Waymaker, to discuss Wang’s testimony and how it could damage the defense.

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