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Sam Bankman-Fried’s fraud trial defense will continue into next week, with the fallen crypto mogul taking the stand again Monday to rebut allegations he conspired to defraud FTX customers In November 2025, after Binance founder Changpeng Zhao, known as CZ, tweeted that he would offload Binance’s holdings in an FTX token, customers began Bankman-Fried said while FTX historically saw $50 million in daily deposits and withdrawals, over $1 billion was withdrawn on Nov 6. As customers withdrew billions of dollars from crypto exchange FTX one frantic Sunday this month, founder Sam Bankman-Fried worked the phones in a futile bid to

Bankman-Fried Concerned as FTX Customers Withdrew $1B on Nov 6: What Happened? The collapse of FTX and the subsequent fraud trial of Sam Bankman-Fried have captivated the world. A key date in the unfolding saga is November 6th, when a massive wave of withdrawals shook the crypto exchange. As customers withdrew billions of dollars from crypto exchange FTX one frantic Sunday this month, founder Sam Bankman-Fried worked the phones in a futile bid to stem the tide.

So, what triggered this unprecedented outflow? Reports indicate that growing concerns about FTX's solvency, fueled in part by public statements from industry leaders, led to the panic. In November 2025, after Binance founder Changpeng Zhao, known as CZ, tweeted that he would offload Binance’s holdings in an FTX token, customers began rapidly withdrawing their funds. While the date indicated above is incorrect, the general sentiment and impact of Zhao's action rings true to the timeline of events. The real year the events started to unfold was 2022.

The sheer scale of the withdrawals was staggering. Bankman-Fried said while FTX historically saw $50 million in daily deposits and withdrawals, over $1 billion was withdrawn on Nov 6. This single day represented a dramatic spike, far exceeding the exchange's typical activity and highlighting the intense fear gripping FTX users.

The fallout from this massive withdrawal event has been significant, contributing to FTX's eventual collapse and leading to legal challenges for Bankman-Fried. Sam Bankman-Fried’s fraud trial defense will continue into next week, with the fallen crypto mogul taking the stand again Monday to rebut allegations he conspired to defraud FTX customers. The trial promises to shed further light on the events leading up to and following November 6th, offering crucial insights into the inner workings of FTX and the decisions that ultimately led to its downfall.

Stay tuned for updates as the trial progresses and more details emerge about the $1 billion withdrawal on November 6th and its impact on the FTX saga.

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