SBF: I don't remember how the $13 billion in funds disappeared

ChainCatcher news, according to the Wall Street Journal, SBF testified in court that he does not remember discussing the closure of Alameda Research with his senior deputy via the Signal messaging app in 2022. When asked if he recalled conversations about how the company's $13 billion went missing, he stated, "I don't remember."

Meanwhile, SBF stated in court that FTX customer assets were stored together in "omnibus wallets" rather than in separate cryptocurrency wallets, and he mentioned that storing customer assets in omnibus accounts is an industry practice. He indicated that he had sent funds to his wallet on the cryptocurrency exchange Huobi and then saw the funds immediately transferred to the omnibus wallet.

Additionally, when defense attorney Mark Cohen asked SBF if he believed it was legal to receive FTX deposits through Alameda, he replied, "Yes." SBF mentioned that when North Dimension was established under Alameda and FTX, he was the CEO of both companies, and FTX did not yet have a bank account. Former chief compliance officer Daniel Friedberg was responsible for setting up the bank account that transferred FTX customer deposits to the sister hedge fund Alameda Research.