The trial of former FTX CEO Sam Bankman-Fried is about to begin in a New York courtroom. The former crypto executive is being tried on multiple fraud charges during a trial expected to last six weeks.
Day one begins with jury selection. Blockworks reporters Casey Wagner and James Cirrone have decamped to the Manhattan courthouse to provide live updates.
Bankman-Fried’s $250 million bond was revoked after Judge Lewis Kaplan sided with the government. The prosecution alleged that SBF leaked diary entries from his ex-colleague — as well as ex-girlfriend’s — diary to a New York Times reporter in an attempt to discredit her testimony ahead of trial.
Even though the trial is underway, both the defense and the government continue to squabble over testimonies. Bankman-Fried’s lawyers filed a letter with the judge on Monday arguing to exclude some witness testimonies.
In late September, Judge Kaplan ruled that seven of SBF’s witnesses would not be able to testify, siding with a government motion to block the witnesses from taking the stand. However, a few of the witnesses would be able to testify in response to the prosecutor’s witnesses. The defense’s team would need to file for approval, and the government is able to object.
Outside of the witnesses, both the defense and the US government have engaged in back and forth around the discovery plan. In August, the government said it received millions of documents from SBF’s Google accounts.
As part of a push to seek release for SBF, the defense complained about the amount of discovery provided. Defense attorneys noted that these deliveries came after court-ordered deadlines — which prosecutors blamed on Google — and decried the process as “fundamentally unfair.”
Bankman-Fried previously pleaded not guilty to seven fraud and conspiracy charges, which were handed down on Aug. 14.
This is a developing story.
Blockworks reporters Casey Wagner and James Cirrone are covering Sam Bankman-Fried’s trial from the courtroom in New York. Follow for instant trial updates on their X accounts.
Don’t miss the next big story – join our free daily newsletter.
Follow Sam Bankman-Fried’s trial with the latest news from the courtroom.
Source: https://blockworks.co/news/sbf-trial-day-1