Ex-Girlfriend Testifies about Fallen Crypto King's Unethical Utilitarianism in Fraud Trial

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Ex-Girlfriend Testifies about Fallen Crypto King's Unethical Utilitarianism in Fraud Trial

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During the fraud trial of Sam Bankman-Fried, a former girlfriend testified that he disregarded principles such as honesty and integrity because they did not align with his "utilitarian" moral code, which focused on what he believed to be the greater good. The accused, who allegedly stole over $8 billion in user funds from his crypto exchange FTX to cover losses at his hedge fund Alameda Research, showed a casual disregard for lying as long as it served his utilitarian goals, influencing his ex-girlfriend to also compromise the truth. She admitted to following Bankman-Fried's instructions to manipulate balance sheets sent to a lender, concealing Alameda's significant loss from FTX users' wallets. Genesis, a major investor in Alameda, considered withdrawing $500 million from Bankman-Fried's company, which ultimately led to bankruptcy for all parties involved. Furthermore, prosecutors revealed a text message exchange where the ex-girlfriend responded with a sad-face emoji upon learning that customers were withdrawing funds rapidly, to which Bankman-Fried replied callously. The ex-girlfriend will face cross-examination by Bankman-Fried's defense attorneys.