Sam Bankman-Fried Requests Court To Reconsider Earlier Rulings

Sam Bankman-Fried’s defense team sent a letter to the federal judge requesting clarification and reconsideration on some portions of the court’s rulings. The move comes after testimony from former FTX CTO Gary Wang and former Alameda CEO Caroline Ellison makes the case challenging for Sam Bankman-Fried and his defense team.

Sam Bankman-Fried’s Lawyers Seek Reconsideration On Rulings

Sam Bankman-Fried attorneys request clarification and reconsideration regarding certain portions of the court’s ruling on the parties’ motions in limine. Judge Lewis A. Kaplan has made critical rulings during the trial such as precluding the defense from mentioning Anthropic, cross-examination of Wang and Ellison, and FTX’s regulation in the US. Moreover, these decisions could significantly shape the direction and outcomes of the proceedings.

Now, the defense needs clarification and reconsideration some parts of earlier rulings such as the ruling to preclude Sam Bankman-Fried from arguing that “he is not guilty because FTX was not regulated in the U.S. and he followed rules for FTX US.

“The Court adheres to its original ruling. Moreover, and with respect, the defendant has misconstrued the Court’s rulings. Properly construed, there is no inconsistency.”

SBF attorneys need reconsideration on rulings to preclude opposition to the government’s memorandum on the motion in limine, evidence regarding charitable or philanthropic efforts, and the defendant’s intent to provide evidence on fraud allegations and misappropriated funds.

Also Read: The Bahamas Maintains Optimistic Outlook on Crypto Amid FTX Debacle

Caroline Ellison Makes Crucial Allegations

Caroline Ellison’s testimony highlights potential Bitcoin price tampering and financial concerns in the FTX trial. Sam Bankman-Fried told the insider team to maintain Bitcoin below $20,000. She also said Alameda Research borrowed $13 billion from FTX clients under Sam Bankman-Fried and testifies about alleged bribes to unfreeze Chinese crypto assets.

SBF also tried to bring Binance under increased regulatory scrutiny. The narrative around this trial suggests that FTX intentionally tried to direct regulators toward Binance during its turbulent period.

Also Read: Fed Officials Set For Higher Rate Hikes After IMF Report, Bitcoin Risks Falling To $25K?

✓ Share:

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.