Defense attorney Mark Cohen questioned Sam Bankman-Fried about a tweet  indicating that FTX's assets were secure in the third day of court testimony from the fallen cryptocurrency exchange's co-founder. 

In response, SBF said he believed the exchange was solvent, emphasizing that FTX did not invest using customer assets.

Also Read: Spot Bitcoin ETF Set For Approval In A Few Months, Predicts Former SEC Insider

The discussion then shifted to a particularly dire situation Bankman-Fried described as an "Alameda asset crash," admitting the exchange had very little margin left.

He also mentioned taking down a relevant tweet thread about the incident.

It's essential to note the broader context of the digital assets industry. The Benzinga's Future of Digital Assets conference, scheduled for Nov. 14, is set to address various facets of the rapidly evolving digital currency landscape.

Cohen then brought up the potential acquisition of FTX by Binance, a major player in the cryptocurrency world.

Bankman-Fried recounted his approach to Binance's CEO Changpeng Zhao for a possible acquisition.

After expressing initial interest, Binance decided against the move.

Additionally, Bankman-Fried delved into his personal work regimen, indicating that he frequently worked 22 to 23 hours a day.

Discussions also revolved around potential billion-dollar investments from Apollo and interactions with FTX General Counsel Can Sun.

Read Next: Bitcoin, Ethereum: Are The Glory Days Over? Crypto Analyst Warns Of Diminishing Returns

Industry titans BlackRock, DTCC, OCC, State Street, Société Générale, Hedera, Citi, BMO, Northern Trust, Citibank, Amazon, S&P Global, Google, Invesco, and Moody’s will join our November 13 Fintech Deal Day and November 14 Future of Digital Assets. Secure a spot here to join them!

Photo via Shutterstock.