What does a genius look like? Unkept hair, and casual, casually thrown-on, no-nonsense clothes were the look "in vogue" as per popular culture. This is the standard allegedly adopted by Sam Bankman-Fried, FTX to keep up with his "tech genius" persona.

<h2>A deliberate anti-style</h2>

Recently, Sam Bankman Fried took the stand during his blockbuster crypto trial, and before that, the tech genius got a haircut.&nbsp;

This style change happened just in time for the prosecutors' cross-examination which, as per the Guardian, included questions like whether the famously unkempt hair was a part of his deliberate, anti-style "tech genius" persona.

During the high drama trial testimony, New York assistant US attorney Danielle Sassoon, during her pointed cross-examination, asked Bankman-Fried about his persona and his unkept boy genius look that was allegedly used to woo investors.&nbsp;

During her testimony, the FTX founder's ex-girlfriend and Alameda Research CEO Caroline Ellison had claimed that Bankman-Fried's signature unruly mane of hair was an 'act'.

<h2>Sartorial choices and biting questions</h2>

Sassoon asked Bankman-Fried if he would "agree that you know how to tell a good story?" Deflecting the question, he answered, "it depends".

The attorney then grilled him on his sartorial or tailoring choices, asking him if he believed that cutting his signature unkept hair would have had a negative value because, as he allegedly said, earlier "it's important for people to think I look crazy."

However, the tech genius denied this and said, "I don't think I said that in that way". In a previous testimony, he had clarified that the only reason he did not cut his hair was because he was busy and lazy and that it was not a strategic decision.

Also read |&nbsp;<a href="https://www.wionews.com/world/tearful-caroline-ellison-reveals-bankman-frieds-instructed-her-to-falsify-records-commit-fraud-645793">Tearful Caroline Ellison reveals Bankman-Fried instructed her to falsify records, commit fraud</a>

The questions then moved on to his dressing choices, with Sassoon asking him whether he recalled telling an investor that "a T-shirt and shorts" were part of his brand, to a request to wear a suit. Bankman-Fried said he did not remember such a comment.

Focusing on his presentation and branding, Sassoon moved the spotlight onto the former CEO's intelligence.&nbsp;

The tech genius' defence attorney had attempted to portray him as an overwhelmed young man who "made mistakes" while trying to build a fast-growing venture.

Bankman-Fried too said, "I made a number of small mistakes and a number of large mistakes." However, the former CEO stuck to his earlier plea of not guilty.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/trial-of-ftx-founder-sam-bankman-fried-gets-underway-with-jury-selection-642267">Trial of FTX founder Sam Bankman-Fried gets underway with jury selection</a>

Ellison, along with two other former members of Bankman-Fried's inner circle, have pleaded guilty to fraud charges. They've also agreed to cooperate with the Manhattan US attorney general's office, reports Reuters.

However, Bankman-Fried has entered a not-guilty plea to two counts of fraud and five counts of conspiracy. He also contends that while he made mistakes running FTX, he never intended to steal funds.

Prosecutors allege that Bankman-Fried used customer funds to support Alameda, purchase real estate, and donate over $100 million to US political campaigns.&nbsp;

(With inputs from agencies) 
 
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What does a genius look like? Unkept hair, and casual, casually thrown-on, no-nonsense clothes were the look "in vogue" as per popular culture. This is the standard allegedly adopted by Sam Bankman-Fried, FTX to keep up with his "tech genius" persona.

What does a genius look like? Unkept hair, and casual, casually thrown-on, no-nonsense clothes were the look "in vogue" as per popular culture. This is the standard allegedly adopted by Sam Bankman-Fried, FTX to keep up with his "tech genius" persona. A deliberate anti-style Recently, Sam Bankman Fried took the stand during his blockbuster crypto trial, and before that, the tech genius got a haircut. This style change happened just in time for the prosecutors' cross-examination which, as per the Guardian, included questions like whether the famously unkempt hair was a part of his deliberate, anti-style "tech genius" persona. During the high drama trial testimony, New York assistant US attorney Danielle Sassoon, during her pointed cross-examination, asked Bankman-Fried about his persona and his unkept boy genius look that was allegedly used to woo investors. During her testimony, the FTX founder's ex-girlfriend and Alameda Research CEO Caroline Ellison had claimed that Bankman-Fried's signature unruly mane of hair was an 'act'. Sartorial choices and biting questions Sassoon asked Bankman-Fried if he would "agree that you know how to tell a good story?" Deflecting the question, he answered, "it depends". The attorney then grilled him on his sartorial or tailoring choices, asking him if he believed that cutting his signature unkept hair would have had a negative value because, as he allegedly said, earlier "it's important for people to think I look crazy." However, the tech genius denied this and said, "I don't think I said that in that way". In a previous testimony, he had clarified that the only reason he did not cut his hair was because he was busy and lazy and that it was not a strategic decision. Also read | Tearful Caroline Ellison reveals Bankman-Fried instructed her to falsify records, commit fraud The questions then moved on to his dressing choices, with Sassoon asking him whether he recalled telling an investor that "a T-shirt and shorts" were part of his brand, to a request to wear a suit. Bankman-Fried said he did not remember such a comment. Focusing on his presentation and branding, Sassoon moved the spotlight onto the former CEO's intelligence. The tech genius' defence attorney had attempted to portray him as an overwhelmed young man who "made mistakes" while trying to build a fast-growing venture. Bankman-Fried too said, "I made a number of small mistakes and a number of large mistakes." However, the former CEO stuck to his earlier plea of not guilty. Also read | Trial of FTX founder Sam Bankman-Fried gets underway with jury selection Ellison, along with two other former members of Bankman-Fried's inner circle, have pleaded guilty to fraud charges. They've also agreed to cooperate with the Manhattan US attorney general's office, reports Reuters. However, Bankman-Fried has entered a not-guilty plea to two counts of fraud and five counts of conspiracy. He also contends that while he made mistakes running FTX, he never intended to steal funds. Prosecutors allege that Bankman-Fried used customer funds to support Alameda, purchase real estate, and donate over $100 million to US political campaigns. (With inputs from agencies) WATCH WION LIVE HERE

I was just lazy: FTX's Bankman-Fried defends unkempt 'genius' hair, persona ex-gf said was an 'act'

Caroline Ellison, a close associate and&nbsp;former girlfriend of Sam Bankman-Fried, on Wednesday testified that she was "terrified" that the truth would come out and that she was relieved when the FTX crypto exchange collapsed last year.

Ellison, the former co-CEO of Alameda Research, Bankman-Fried's crypto hedge fund, in a teary testimony during the fraud trial revealed that her former boyfriend had led her to commit fraud.

<h2>Anything for love?</h2>

As per Ellison's testimony, Bankman-Fried directed her to falsify Alameda's balance sheets. This was supposed to keep lenders at bay amid a downturn in cryptocurrency markets in 2022.

"I felt a sense of relief that I didn't have to lie anymore," she said tearfully.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/bankman-fried-trial-crypto-was-not-for-everyone-says-ftx-founders-lawyer-642709">Bankman-Fried trial: Crypto was not for everyone, says FTX founder's lawyer</a>

Ellison, who has confessed to assisting in misappropriating billions of FTX customer assets, revealed that these manipulated balance sheets hid the fact that Alameda had borrowed approximately $10 billion in FTX customer funds.

The Stanford University graduate also disclosed that&nbsp;Bankman-Fried instructed her to use the fund's line of credit on the FTX cryptocurrency exchange to repay loans in June 2022.

During her testimony, Ellison emphasised that Bankman-Fried did not adhere to principles like "don't lie" and "don't steal" and described himself as a "utilitarian" who believed that the most crucial rule was to achieve the greatest good for the greatest number of people.

<h2>Bankman-Fried's not guilty plea</h2>

Ellison, along with two other former members of Bankman-Fried's inner circle, have pleaded guilty to fraud charges. They've also agreed to cooperate with the Manhattan US attorney general's office, reports Reuters.

However, Bankman-Fried has entered a not-guilty plea to two counts of fraud and five counts of conspiracy. He also contends that while he made mistakes running FTX, he never intended to steal funds.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/trial-of-ftx-founder-sam-bankman-fried-gets-underway-with-jury-selection-642267">Trial of FTX founder Sam Bankman-Fried gets underway with jury selection</a>

Prosecutors allege that Bankman-Fried used customer funds to support Alameda, purchase real estate, and donate over $100 million to US political campaigns.&nbsp;

Gary Wang, FTX's former technology chief, also testified during the trial. As per Wang's testimony, Bankman-Fried falsely tweeted that FTX was "fine" in November, despite the exchange facing a surge in withdrawal demands. Another cooperating witness, former FTX engineering chief Nishad Singh, is expected to testify in the trial, which could, as per Reuters, last up to six weeks.

(With inputs from agencies)

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Caroline Ellison, a close associate and former girlfriend of Sam Bankman-Fried, on Wednesday testified that she was "terrified" that the truth would come out and that she was relieved when the FTX crypto exchange collapsed last year.

Caroline Ellison, a close associate and former girlfriend of Sam Bankman-Fried, on Wednesday testified that she was "terrified" that the truth would come out and that she was relieved when the FTX crypto exchange collapsed last year. Ellison, the former co-CEO of Alameda Research, Bankman-Fried's crypto hedge fund, in a teary testimony during the fraud trial revealed that her former boyfriend had led her to commit fraud. Anything for love? As per Ellison's testimony, Bankman-Fried directed her to falsify Alameda's balance sheets. This was supposed to keep lenders at bay amid a downturn in cryptocurrency markets in 2022. "I felt a sense of relief that I didn't have to lie anymore," she said tearfully. Also read | Bankman-Fried trial: Crypto was not for everyone, says FTX founder's lawyer Ellison, who has confessed to assisting in misappropriating billions of FTX customer assets, revealed that these manipulated balance sheets hid the fact that Alameda had borrowed approximately $10 billion in FTX customer funds. The Stanford University graduate also disclosed that Bankman-Fried instructed her to use the fund's line of credit on the FTX cryptocurrency exchange to repay loans in June 2022. During her testimony, Ellison emphasised that Bankman-Fried did not adhere to principles like "don't lie" and "don't steal" and described himself as a "utilitarian" who believed that the most crucial rule was to achieve the greatest good for the greatest number of people. Bankman-Fried's not guilty plea Ellison, along with two other former members of Bankman-Fried's inner circle, have pleaded guilty to fraud charges. They've also agreed to cooperate with the Manhattan US attorney general's office, reports Reuters. However, Bankman-Fried has entered a not-guilty plea to two counts of fraud and five counts of conspiracy. He also contends that while he made mistakes running FTX, he never intended to steal funds. Also read | Trial of FTX founder Sam Bankman-Fried gets underway with jury selection Prosecutors allege that Bankman-Fried used customer funds to support Alameda, purchase real estate, and donate over $100 million to US political campaigns. Gary Wang, FTX's former technology chief, also testified during the trial. As per Wang's testimony, Bankman-Fried falsely tweeted that FTX was "fine" in November, despite the exchange facing a surge in withdrawal demands. Another cooperating witness, former FTX engineering chief Nishad Singh, is expected to testify in the trial, which could, as per Reuters, last up to six weeks. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Tearful Caroline Ellison reveals Bankman-Fried instructed her to falsify records, commit fraud

Embattled crypto trader and co-founder of FTX Sam Bankman-Fried was released on $250 million bail a day after accepting to be extradited from the Bahamas.

The 30-year-old crypto mogul faces eight criminal charges, including wire fraud, money laundering and campaign finance violations.

US magistrate judge Gabriel Gorenstein made the ruling on Thursday in federal court in Manhattan said Bankman-Fried would have to remain under strict supervision at his parents’ home in Palo Alto, California.

He was flown back to New York City from the Bahamas on Wednesday and was placed under FBI custody after he dropped his right to challenge the US government's extradition request.

As per the bail conditions, Bankman-Fried will be monitored via an ankle bracelet, and has been asked to surrender his passport and agree to mental health and substance abuse treatment.

The magistrate warned the crypto trader that an arrest warrant would be issued against him if he violates any of the conditions and that his parents would be liable $250m for the bond, reports AFP news agency.

After the judge asked Bankman-Fried if he understood the bail requirements, he replied, “Yes, I do.”

FTX and its sister trading house&nbsp;Alameda Research went bankrupt last month, dissolving a virtual trading business that at one point had been valued by the market at $32 billion.

It has been alleged that Bankman-Fried cheated investors and misappropriated funds that belonged to FTX and Alameda Research customers.

The Commodity Futures Trading Commission estimates that $8 billion were misappropriated from FTX customer accounts.&nbsp;

FTX, founded in 2019, rose spectacularly to become a leading player in the crypto world. Bankman-Fried was once considered the future Warren Buffet.

But it all came crashing down in November after a media report claimed that Alameda's balance sheet was heavily built on a token created by FTX with no independent value, exposing Bankman-Fried’s companies as being dangerously interlinked.

The 30-year-old billionaire was arrested at his Nassau apartment on December 12 at the request of federal prosecutors in New York.

(With inputs from agencies)

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Embattled crypto trader and co-founder of FTX Sam Bankman-Fried was released on $250 million bail a day after accepting to be extradited from the Bahamas. The 30-year-old crypto mogul faces eight criminal charges, including wire fraud, money laundering and campaign finance violations.

Embattled crypto trader and co-founder of FTX Sam Bankman-Fried was released on $250 million bail a day after accepting to be extradited from the Bahamas. The 30-year-old crypto mogul faces eight criminal charges, including wire fraud, money laundering and campaign finance violations. US magistrate judge Gabriel Gorenstein made the ruling on Thursday in federal court in Manhattan said Bankman-Fried would have to remain under strict supervision at his parents’ home in Palo Alto, California. He was flown back to New York City from the Bahamas on Wednesday and was placed under FBI custody after he dropped his right to challenge the US government's extradition request. As per the bail conditions, Bankman-Fried will be monitored via an ankle bracelet, and has been asked to surrender his passport and agree to mental health and substance abuse treatment. The magistrate warned the crypto trader that an arrest warrant would be issued against him if he violates any of the conditions and that his parents would be liable $250m for the bond, reports AFP news agency. After the judge asked Bankman-Fried if he understood the bail requirements, he replied, “Yes, I do.” FTX and its sister trading house Alameda Research went bankrupt last month, dissolving a virtual trading business that at one point had been valued by the market at $32 billion. It has been alleged that Bankman-Fried cheated investors and misappropriated funds that belonged to FTX and Alameda Research customers. The Commodity Futures Trading Commission estimates that $8 billion were misappropriated from FTX customer accounts. FTX, founded in 2019, rose spectacularly to become a leading player in the crypto world. Bankman-Fried was once considered the future Warren Buffet. But it all came crashing down in November after a media report claimed that Alameda's balance sheet was heavily built on a token created by FTX with no independent value, exposing Bankman-Fried’s companies as being dangerously interlinked. The 30-year-old billionaire was arrested at his Nassau apartment on December 12 at the request of federal prosecutors in New York. (With inputs from agencies) WATCH WION LIVE HERE:

FTX co-founder Sam Bankman-Fried released on $250m bail

Sam Bankman-Fried's FTX, his parents and senior executives of the failed cryptocurrency exchange bought at least 19 properties worth nearly $121 million in the Bahamas over the past two years, official property records show.

Most of FTX's purchases were luxury beachfront homes, including seven condominiums in an expensive resort community called Albany, costing almost $72 million. The deeds show these properties, bought by a unit of FTX, were to be used as "residence for key personnel" of the company. Reuters could not determine who lived in the apartments.

The documents for another home with beach access in Old Fort Bay -- a gated community that was once home to a British colonial fort built in the 1700s to protect against pirates -- show Bankman-Fried's parents, Stanford University law professors Joseph Bankman and Barbara Fried, as signatories. The property, one of the documents dated June 15 said, is for use as a "vacation home."

When asked by Reuters why the couple decided to buy a vacation home in the Bahamas and how it was paid for -- whether in cash, with a mortgage or by a third party such as FTX -- a spokesman for the professors said only that Bankman and Fried had been trying to return the property to FTX.

Also read |&nbsp;<a href="https://www.wionews.com/photos/making-sense-of-kim-jong-uns-daughters-first-public-appearance-536383">Making sense of Kim Jong Un's daughter's first public appearance</a>

"Since before the bankruptcy proceedings, Mr. Bankman and Ms. Fried have been seeking to return the deed to the company and are awaiting further instructions," the spokesperson said, declining to elaborate.

While it is known that FTX and its employees bought real estate in the Bahamas, where it established its headquarters in September last year, the property records seen by Reuters show for the first time the scale of their buying spree and the intended use of some of the real estate.

FTX, which filed for bankruptcy earlier this month after a rush of customer withdrawals, did not respond to a request for comment. Bankman-Fried did not respond to requests for comment.

Bankman-Fried has told Reuters he lived in a house with nine other colleagues. For his employees, he said FTX provided free meals and an "in-house Uber-like" service around the island.

The collapse of FTX, one of the world's largest crypto currency exchanges, has left an estimated 1 million creditors facing losses totalling billions of dollars. Reuters has reported Bankman-Fried secretly used $10 billion in customer funds to prop up his trading business, and that at least $1 billion of those deposits had vanished.

In a U.S. court filing with the District of Delaware bankruptcy court earlier this month, John Ray, FTX's new chief executive, said he understood that corporate funds of the FTX Group were used to "purchase homes and other personal items for employees and advisors."

Reuters could not determine the source of funds that FTX and its executives used to buy these properties.

PROPERTY PURCHASES

Reuters searched property records at the Bahamas Registrar General's Department for FTX, Bankman-Fried, his parents and some of the company's key executives.

FTX Property Holdings Ltd, an FTX unit, bought 15 properties worth nearly $100 million in 2021 and 2022.

Its most expensive purchase was a $30 million penthouse at the Albany, a resort where Tiger Woods hosts a golf tournament every year. The property records for the penthouse, dated March 17, were signed by Ryan Salame, the president of FTX Property, and showed it was intended as "residence for key personnel."

Salame did not respond to a request for comment.

Other high-end real estate purchases include three condominiums at One Cable Beach, a beachfront residence in New Providence. Records showed the condominiums cost between $950,000 and $2 million and were bought by Nishad Singh, the former head of engineering at FTX, Gary Wang, an FTX co-founder, and Bankman-Fried for residential use.

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Singh and Wang did not respond to requests for comment.

Two of FTX Property's real estate holdings were marked for commercial use – an $8.55 million cluster of houses that served as FTX's headquarters, and a 4.95-acre plot of land on the coastline overlooking cyan waters that was also meant to be developed into office space for the crypto exchange.

The FTX headquarters is now unoccupied, with furniture pushed against some windows. Its signage has been removed. The plot of land, which cost $4.5 million, also lies empty.

A security guard said employees did not return to the headquarters after leaving earlier this month.

Sam Bankman-Fried's FTX, his parents and senior executives of the failed cryptocurrency exchange bought at least 19 properties worth nearly $121 million in the Bahamas over the past two years, official property records show.

Sam Bankman-Fried's FTX, his parents and senior executives of the failed cryptocurrency exchange bought at least 19 properties worth nearly $121 million in the Bahamas over the past two years, official property records show. Most of FTX's purchases were luxury beachfront homes, including seven condominiums in an expensive resort community called Albany, costing almost $72 million. The deeds show these properties, bought by a unit of FTX, were to be used as "residence for key personnel" of the company. Reuters could not determine who lived in the apartments. The documents for another home with beach access in Old Fort Bay -- a gated community that was once home to a British colonial fort built in the 1700s to protect against pirates -- show Bankman-Fried's parents, Stanford University law professors Joseph Bankman and Barbara Fried, as signatories. The property, one of the documents dated June 15 said, is for use as a "vacation home." When asked by Reuters why the couple decided to buy a vacation home in the Bahamas and how it was paid for -- whether in cash, with a mortgage or by a third party such as FTX -- a spokesman for the professors said only that Bankman and Fried had been trying to return the property to FTX. Also read | Making sense of Kim Jong Un's daughter's first public appearance "Since before the bankruptcy proceedings, Mr. Bankman and Ms. Fried have been seeking to return the deed to the company and are awaiting further instructions," the spokesperson said, declining to elaborate. While it is known that FTX and its employees bought real estate in the Bahamas, where it established its headquarters in September last year, the property records seen by Reuters show for the first time the scale of their buying spree and the intended use of some of the real estate. FTX, which filed for bankruptcy earlier this month after a rush of customer withdrawals, did not respond to a request for comment. Bankman-Fried did not respond to requests for comment. Bankman-Fried has told Reuters he lived in a house with nine other colleagues. For his employees, he said FTX provided free meals and an "in-house Uber-like" service around the island. The collapse of FTX, one of the world's largest crypto currency exchanges, has left an estimated 1 million creditors facing losses totalling billions of dollars. Reuters has reported Bankman-Fried secretly used $10 billion in customer funds to prop up his trading business, and that at least $1 billion of those deposits had vanished. In a U.S. court filing with the District of Delaware bankruptcy court earlier this month, John Ray, FTX's new chief executive, said he understood that corporate funds of the FTX Group were used to "purchase homes and other personal items for employees and advisors." Reuters could not determine the source of funds that FTX and its executives used to buy these properties. PROPERTY PURCHASES Reuters searched property records at the Bahamas Registrar General's Department for FTX, Bankman-Fried, his parents and some of the company's key executives. FTX Property Holdings Ltd, an FTX unit, bought 15 properties worth nearly $100 million in 2021 and 2022. Its most expensive purchase was a $30 million penthouse at the Albany, a resort where Tiger Woods hosts a golf tournament every year. The property records for the penthouse, dated March 17, were signed by Ryan Salame, the president of FTX Property, and showed it was intended as "residence for key personnel." Salame did not respond to a request for comment. Other high-end real estate purchases include three condominiums at One Cable Beach, a beachfront residence in New Providence. Records showed the condominiums cost between $950,000 and $2 million and were bought by Nishad Singh, the former head of engineering at FTX, Gary Wang, an FTX co-founder, and Bankman-Fried for residential use. Also read | Indonesia quake toll rises to 252, president announces compensation for families of victims Singh and Wang did not respond to requests for comment. Two of FTX Property's real estate holdings were marked for commercial use – an $8.55 million cluster of houses that served as FTX's headquarters, and a 4.95-acre plot of land on the coastline overlooking cyan waters that was also meant to be developed into office space for the crypto exchange. The FTX headquarters is now unoccupied, with furniture pushed against some windows. Its signage has been removed. The plot of land, which cost $4.5 million, also lies empty. A security guard said employees did not return to the headquarters after leaving earlier this month.

Sam Bankman-Fried's FTX, parents bought Bahamas property worth $121 million