FTX Ex-CEO Sam Bankman-Fried's High-Profile Trial Begins Amidst Media Frenzy
Summary:
The trial of ex-FTX CEO Sam Bankman-Fried commenced on October 3rd, drawing a crowd of media, crypto influencers, and the curious. With changes in demeanour and physical appearance, Bankman-Fried was observed to adapt to his environment in Brooklyn’s Metropolitan Detention Centre. The first day, likened to a school reunion, saw potential jurors questioned about prior knowledge about FTX and Alameda. The trial, anticipated to last six weeks, will include former corporate executives and family among its list of prosecution witnesses. The jury selection and opening arguments are set for October 4.
The highly awaited legal battle involving the ex-CEO of FTX, Sam Bankman-Fried, commenced on October 3, with abundant movement both within and in the vicinity of the compact courtroom in Manhattan. An assortment of journalists, crypto pundits, and curious observers congregated in an allocated space for media to chronicle the day's proceedings. Here are some standout moments from the first day.
Bankman-Fried, the defendant, seemed notably slimmer, as observed in multiple reports. Surrounded by a team of five defense attorneys, he wore an oversize navy suit differing from prior appearances, and his characteristic loose, curly hair was exchanged for a less noticeable haircut.
Laura Shin from Unchained Crypto noticed that Bankman-Fried was considerably calmer than usual. "I didn't see him fidgeting with his leg as he usually does,” she mentioned in an October 3 podcast. His communication was limited to affirmative responses to the judge and occasional glances towards the jury. At other times, he was seen consulting with his lawyers or using his laptop.
Having spent the past seven weeks in Brooklyn’s Metropolitan Detention Centre, Bankman-Fried bore a hardened aspect. His lawyers' earlier attempts to secure his release have been of no avail with conditions inside the facility driving them to assert that his diet consisted of bread, water and inadequate vegan food options.
The first day of trial drew tremendous attention implying a reunion at the beginning of a school academic year. Several journalists present noted that the scene was unlike anything they had seen before. Bystanders included crypto influencers, skeptics, and an array of media figures.
Judge Lewis B. Kaplan provided clear instructions to the jury, advising against any external research or press coverage reading. The judge initiated a dialogue with the potential jurors, querying them about their familiarity with FTX and Alameda. One juror revealed a losing investment in cryptocurrency. The jury was finally narrowed down to 50 preordained jurors, with 18 to be picked out consisting of 12 jurors and six alternatives.
The list of potential witnesses for the prosecution enumerated former corporate executives, family members, and even certain institutions. The judge revealed that the trial, which is anticipated to last six weeks, could also be concluded in less time.
By end of day, the final jury selection was not completed. It was scheduled to be done by the morning of October 4, with opening arguments to follow.
Published At
10/4/2023 5:34:05 AM
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