Former Executives of FTX and Sister Companies to Testify Against SBF in DOJ Case
Several former executives from cryptocurrency exchange FTX and its sister companies are set to testify in the criminal case brought by the United States Justice Department against Sam “SBF” Bankman-Fried. The list of witnesses, which was revealed during jury selection, includes individuals such as Caroline Ellison, former CEO of Alameda Research; Gary Wang, co-founder of FTX; Nishad Singh, former engineering director at FTX; and Constance Wang, former chief operating officer at FTX. Ellison, Gary Wang, and Singh have already pleaded guilty to charges related to the collapse of FTX.
Other Potential Witnesses
In addition to the former executives, other potential witnesses mentioned by Assistant U.S. Attorney Danielle Sassoon include Anthony Scaramucci, co-founder of SkyBridge Capital. Scaramucci has previously criticized Bankman-Fried for his alleged role in the crypto market downturn of 2022. Ryan Salame, former co-CEO of FTX Digital Markets, will not be testifying.
SBF’s Trial Begins
The trial for SBF started with jury selection on October 3. Notably, Bankman-Fried appeared without his usual messy hair. Judge Lewis Kaplan confirmed that no plea deal had been offered to the former FTX CEO and warned prospective jurors to avoid consuming media related to the trial. The selection process continued on October 4, with opening arguments expected to begin on the same day. The trial is anticipated to last until November.
Criminal Charges and Second Trial
In his first trial, Bankman-Fried faces seven criminal counts, with an additional five charges set to be addressed in a second trial scheduled for March 2024.
Hot Take: SBF’s Trial Puts Former Executives in the Spotlight
The involvement of former executives from FTX and its sister companies as witnesses in the criminal case against Sam Bankman-Fried highlights the potential consequences of their actions. This trial will shed light on the collapse of FTX and the alleged role played by Bankman-Fried. As the trial progresses, it will be interesting to see how their testimonies impact the outcome and shape public perception of the cryptocurrency industry.
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