Sam Bankman-Fried (SBF) had so much going in opposition to him effectively earlier than the beginning of his legal trial: the ire of many within the crypto house, suspicion from United States policymakers, and destructive consideration from some within the media searching for clickbait angles to affiliate with the previous FTX CEO.
None of which will have had any affect on the case his attorneys deliberate to current at trial, which to date doesn’t appear to have given jurors a lot of something to counter the majority of the narrative put forth by prosecutors. With few exceptions, the testimonies from witnesses for the Justice Division have been easy even for these unfamiliar with the intricacies of crypto buying and selling and investments.
Former Alameda Analysis CEO Caroline Ellison supplied statements admitting to offering fudged numbers whereas former FTX Chief Expertise Officer Gary Wang claimed SBF directed efforts to permit Alameda to “withdraw limitless funds.” Former FTX engineering director Nishad Singh additionally testified relating to the “extreme” purchases Alameda made in endorsements from celebrities.
Associated: Michael Lewis’ new e book places a constructive spin on Sam Bankman-Fried
“[Sam] stated he was keen to take giant coin flips,” Ellison informed jurors on Oct. 10, relating to funding dangers. “He talked about being keen to flip a coin and destroy the world, so long as a win would make it twice pretty much as good.”
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By way of the courtroom proceedings, protection attorneys Mark Cohen and Christian Everdell continuously referred to as for objections and sidebars — a time when counsel can deal with the choose with out the jury listening to — however hardly ever appeared to pose inquiries to witnesses that may considerably assist SBF’s case or sway the jury. Jurors have already heard testimony portray SBF because the instigator behind efforts for Alameda to make use of FTX buyer funds with out customers’ data.
Associated: Sam Bankman-Fried trial strikes to ultimate phases
One of many few holes protection attorneys have been in a position to poke in Singh’s testimony was him admitting to being somewhat fuzzy on particulars in 2022 forward of FTX’s chapter and taking his personal mortgage to buy a trip residence. After laying out their case in opening arguments on Oct. 4, Cohen and Everdell prompt they might current proof pointing the finger at Ellison for a lot of the legal acts. Nevertheless, as Ellison, Wang, and Singh all accepted plea offers and informed parallel variations of the identical story, SBF attorneys’ cross-examination got here throughout as milquetoast.
SAM BANKMAN-FRIED MIGHT RISK TESTIFYING IN CRIMINAL TRIAL
Threat? Dude went on the shoeshine boy’s podcast final 12 months to elucidate that he was very “sorry”
— zerohedge (@zerohedge) October 25, 2023
Quickly SBF’s authorized staff would be the one calling witnesses, which we realized on Oct. 25 will embrace the previous FTX CEO himself. The one motive to name Bankman-Fried to the stand in his protection can be to bolster his case, and meaning having jurors imagine SBF, a socially awkward “math nerd” in response to his personal attorneys, over his colleagues. Whereas doubtlessly testifying that he “did what [he] thought was proper” is perhaps personally satisfying to SBF, it doesn’t appear to assist defend his actions, not to mention inure jurors to his plight.
There’s been an astonishing distinction between the pre-arrest and mid-trial personas of Bankman-Fried. The previous CEO used to have common interviews with main media shops, wasn’t shy about tweeting his ideas on the crypto market, and was thought of by many to some of the in style figures within the house.
Now, following his path to jail, SBF has gone from freedom in The Bahamas to residence confinement with restricted web, to the purpose the place few individuals have truly heard his voice or seen a photograph of him in months — cameras typically aren’t allowed within the courtroom, and getting a snapshot of him from jail is unlikely. The previous CEO has trimmed his hair and frequently wears a go well with and tie to courtroom, one thing many would have discovered unthinkable a 12 months in the past.
SBF’s attorneys and New York prosecutors are on hiatus till Oct. 26, when courtroom proceedings will resume. The protection staff has prompt it might name as much as three witnesses — 4, together with Bankman-Fried — in comparison with the roughly 20 individuals referred to as by prosecutors. This technique, in response to Cohen, will solely take a couple of days to current to the jury, after which era closing arguments will start.
Protection attorneys have their work minimize out for them.
Turner Wright is a coverage reporter at Cointelegraph.
This text is for common info functions and isn’t meant to be and shouldn’t be taken as authorized or funding recommendation. The views, ideas, and opinions expressed listed here are the writer’s alone and don’t essentially replicate or symbolize the views and opinions of Cointelegraph.
