💬 Quoted… “I don’t tend to show a lot of freakoutness but, relative to my standard, yes.”

• On Friday, former FTX CEO Sam Bankman-Fried took the stand to testify in his ongoing fraud trial. In his testimony, SBF claimed he didn’t know FTX’s sister firm Alameda Research had borrowed an unsustainable amount from the crypto exchange until the summer of 2022 (when he began to show some freakoutness), suggested his only wrongdoing was failing to properly supervise then-Alameda CEO Caroline Ellison (who is also SBF’s ex-girlfriend), and stressed that he didn’t have a background in computer coding. SBF was questioned by his own lawyer on Friday, but will face cross-examination from federal prosecutors later today.

🪙🌆 Stat of the Day: It seems the Golden State refers to more than just sunshine: 7 of the top 10 most expensive US cities are located in California, led by San Diego (#1), LA (#2), Santa Barbara (#5), and San Francisco (#6), per a new ranking from US News & World Report.

🤔 Did You Know?... Unopened Lego sets had a higher average annual rate of return than gold, art, or wine between 1987 and 2015 (+11%), according to a recent study.

📰 Worth a Read: A brief history of roundabouts and why they're safe → (The Conversation)