Sam Bankman-Fried when infamously used to purchase all the Solana tokens he might for $3 each. On Friday, while affirming at his criminal trial, he exposed he ‘d really begun purchasing SOL much previously in its history, at 20 cents each.
Concerning how he spent for the financial investments, he stated throughout questioning from his attorney: “I thought the funds originated from Alameda’s operating earnings” along with third-party loan providers.
SOL has actually been referred to as a “Sam Coin” due to its close association with Bankman-Fried. He and his business invested greatly in Solana-based tasks and possessions, and evangelized its brand name prior to FTX’s collapse last November.
The exchange’s failure damaged the Solana community; the blockchain’s neighborhood has actually been attempting to shake his shadow since.
Bankman-Fried’s statement totaled up to an effort by defense attorney Mark Cohen to get his customer to reveal that he did “due diligence” on financial investments he made while running FTX and Alameda, however federal district attorney Danielle Sassoon “objection-ed” it down.
SOL traded at $32 at press time Friday.
Modified by Nick Baker.
