SBF Definitely More Pressure When Former FTX Chief Lawyer Cooperates With US Authorities

Key Points:

• SBF definitely added pressure when another key witness was cooperating with the US investigation into the collapse of FTX.
• Former top FTX attorney Daniel Friedberg is cooperating with US authorities.
• Friedberg cooperated as a witness, revealing secrets about how SBF used client funds to fund his business empire.

SBF definitely added pressure as Daniel Friedberg, a former top lawyer for FTX, has been working with US prosecutors on investigating the crypto company’s collapse, Reuters reports.

At a meeting with twenty investigators on November 22, Friedberg supplied information about FTX, the source claimed. According to the source, officials from the Justice Department, the Federal Bureau of Investigation, and the US Securities and Exchange Commission were present at the meeting, which was conducted at the US Attorney’s Office for the Southern District of New York. Reuters looked at the emails exchanged by these participants to schedule the meeting with agencies.

The source claimed that he shared his knowledge with the prosecution at the meeting on Bankman-usage Fried’s of client funds to support his vast business empire. According to the source, Friedberg gave facts about the operation of Bankman-hedge Fried’s fund Alameda Research and related talks he had with other senior officials.

There currently needs to be more information about Friedberg’s involvement. The source claims that neither he nor anybody else has been informed that he is the subject of a criminal inquiry. The source said that he anticipates being called as a government witness in the Bankman-Fried trial in October.

As an earlier Coincu News article updated, Bankman-Fried is accused by US prosecutors of transferring billions of dollars of FTX client funds to Alameda to fund venture capital and home purchases high profile and political donations. However, he pleaded not guilty in federal court in Manhattan on Tuesday.

Bankman-Fried’s two closest associates, Caroline Ellison, former CEO of Alameda, and Gary Wang, former chief technology officer of FTX, pleaded guilty to fraud and agreed to cooperate. Ellison’s attorney did not respond to a request for comment. Wang’s attorney declined to comment.

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