Embattled FTX founder Sam Bankman-Fried (SBF) plans to name a single monetary professional witness for his protection within the ongoing legal trial.
In an Oct. 23 letter, SBF attorneys proposed inviting Joseph Pimbley, a monetary professional with over 30 years of expertise in derivatives and securities buying and selling, to counter testimonies offered by the federal government witnesses, together with former FTX executives and the previous CEO of Alameda Analysis Caroline Ellison.
Pimbley’s testimony will middle on Alameda’s line of credit score (LOC) fluctuations from $1 billion to $3 billion between Oct.7, 2021, and Sept. 18, 2022. Moreover, he’ll present perception into the numerous lower in June 2022.
Moreover, his testimony will provide an in depth account of the balances for customers not affiliated with Alameda or FTX as of final November, as outlined within the official submitting.
“Nearly all of balances for non-Alameda, non-FTX customers (i.e., accounts excluding Alameda’s accounts and FTX’s personal accounts) are concentrated in simply 4 cash (USD, BTC, ETH, and USDT) relative to the lots of of cash outlined throughout the FTX database, and greater than 75% of non-Alameda, non-FTX balances come up from accounts which have spot margin enabled, spot margin lending enabled, or present futures exercise.”
Pimbley’s testimony could be based mostly on information extracted from the FTX’s database.
Pimbley was one of many seven professional witnesses SBF had proposed for his protection in August. Nonetheless, Choose Lewis Kaplan rejected the proposed listing, citing shortcomings in every particular person’s acknowledged opinions and the final irrelevance of deliberate testimony.
Regardless of the rejection, the Court docket dominated that SBF might name 4 of those witnesses in response to authorities witnesses.
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