TechFlow news: SBF's attorney, Mark S. Cohen, delivered his closing arguments in court on Wednesday evening local time, urging the court and jury to recognize that SBF had always acted in "good faith" during his operation of FTX and Alameda Research, and therefore should not be convicted of fraud. In the final minutes of his legal team's closing statements, SBF remained nearly motionless, without his usual signs of nervousness. He stared at his parents, blinked, and took a long sip of water.
Regarding the events and decisions last November that led to FTX's collapse, as well as the disclosure that Alameda misappropriated billions of dollars in customer funds from the exchange, Cohen offered what he called an "alternative history," countering the prosecution's narrative. "SBF did his utmost to launch and operate two multibillion-dollar businesses in a nascent market," Cohen said emotionally in his closing remarks to the jury. "Some decisions turned out well; some turned out badly." He argued that it was "real-world communication breakdowns," "mistakes," and "delays"—not intentional fraud—that ultimately damaged FTX and its affiliated companies.
