The DOJ challenges Sam Bankman-Fried’s defence strategy
The Department of Justice (DOJ) has argued that Sam Bankman-Fried’s defence strategy in the legal saga involving his collapsed cryptocurrency exchange, FTX, is “irrelevant” and should be dismissed. The DOJ contends that his claim that his lawyers approved his alleged fraudulent activities lacks sufficient detail to be valid. Attorney Damian Williams further argues that Bankman-Fried’s defence is confusing and prejudicial unless more information is provided. The government suggests that Bankman-Fried should specify the legal advice he received or reconsider his defence entirely. In response, Bankman-Fried’s attorney, Mark Cohen, asserts that enough disclosures have been made and that his client’s limited internet access in jail violates his rights to prepare his defence effectively.
Main Breakdowns:
- The DOJ argues that Sam Bankman-Fried’s defence strategy is “irrelevant” and lacks sufficient detail.
- The government suggests that Bankman-Fried should provide more information about the legal advice he received or reconsider his defence.
- Bankman-Fried’s attorney contends that enough disclosures have been made and that his client’s limited internet access violates his rights.
Grayscale’s Legal Victory and Proof Collective’s NFTs
In other news, Grayscale has achieved a significant legal win against the SEC, while Bitcoin and GBTC experience a surge in value. Additionally, Kevin Rose’s Proof Collective has introduced a new background to its Moonbirds NFTs.
Hot Take:
The DOJ’s challenge to Sam Bankman-Fried’s defence strategy raises questions about the validity of his claims. It will be interesting to see how this legal saga unfolds and whether Bankman-Fried is able to effectively defend himself against the allegations. Meanwhile, Grayscale’s legal victory and Proof Collective’s innovation in the NFT space demonstrate the ongoing growth and development of the crypto industry.
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