Former FTX Execs Might Testify Against Sam Bankman-Fried

Former FTX Execs Might Testify Against Sam Bankman-Fried

Time Stamp: October 4, 2023 9:06 AM
Source Node: 2917754

Sam Bankman-Fried could face Ellison, Wang and Singh in his trial.

On the first day of jury selection in Sam Bankman-Fried's trial, Assistant US Attorney Danielle Sassoon listed some witnesses who could testify against SBF. 

Among those named were Caroline Ellison, the former CEO of Alameda Research; Gary Wang, co-founder of FTX; and Nishad Singh, the crypto exchange's ex-engineering director.

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Ellison, Wang, and Singh have previously admitted guilt in matters relating to the FTX fiasco.

Additionally, the Assistant US Attorney revealed other possible witnesses, including Anthony Scaramucci, co-founder of SkyBridge Capital. It is worth noting that Scaramucci had earlier criticized Bankman-Fried's purported role in the 2022 crypto market downturn.

Presiding Judge Lewis Kaplan initiated the trial by asking questions to potential jurors about their availability, any conflicts of interest, and whether they had been exposed to media surrounding the case.

Kaplan emphasized the high-profile nature of the trial, instructing jurors to steer clear of any related media content. As Kaplan remarked:

This case has generated publicity. You're to stay away from it — podcasts, anything.

Bankman-Fried's appearance in court on the first day was notably different from his usual messy hairstyle, suggesting a deliberate change ahead of the trial.

Judge Kaplan also confirmed that no plea deal had been extended to the ex-CEO by the prosecution. Jury selection is slated to continue on October 4th, with four out of 12 prospective jurors already dismissed as of the latest update.

The October 4th trial is expected to start with the opening statements, with the defense and the prosecution expected to spend between 25 to 40 minutes addressing the jury.

Bankman-Fried faces seven criminal counts in this first trial, with an additional five charges to be considered in the next trial set for March 2024.

The upcoming weeks promise to be pivotal as former FTX executives, who have already pleaded guilty, are slated to testify against Sam Bankman-Fried. The trial is already generating considerable media attention, emphasizing its significance in the crypto community. Judge Kaplan expects the trial to last through November but also noted that legal proceedings often wrap up sooner than attorneys anticipate.

Gile is a Market Sentiment Analyst who understands what public events may form what emotions. Her experience researching Web3 news and public market messages – including cryptocurrency news reports, PRs, and social network streams – is critical to her role in helping lead the Crypto News Editorial Team.
As an intelligent professional in public relations, together with the team, she aims to determine real VS fake news patterns, and bring her findings to anyone searching for unbiased news and events happening in the FinTech markets. Her expertise is uncovering the latest trustworthy & informative Web3 announcements to the masses.
When she's not researching the trustworthiness of mainstream stories, she spends time enjoying her terrace view and taking meticulous care of her outdoor environment.

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