Former FTX CEO Sam “SBF” Bankman-Fried’s Trial Begins
The trial of former FTX CEO Sam “SBF” Bankman-Fried began on October 3 with a flurry of activity. Journalists, crypto influencers, and onlookers crowded into a media overflow room to witness the proceedings.
Bankman-Fried’s New Look
Bankman-Fried appeared noticeably leaner and had a new haircut. He was dressed in a navy suit and seemed less jittery than usual, according to reports. During the trial, he mostly remained quiet, only speaking to answer the judge and occasionally looking at the jurors. He spent the past seven weeks in detention at Brooklyn’s Metropolitan Detention Center.
A Crypto Prom
The first day of the trial was described as feeling like the first day of school. The courthouse was filled with journalists, influencers, skeptics, and others involved or interested in decentralized currency. The atmosphere was likened to a “crypto prom,” with a diverse mix of attendees.
Jurors and Their Views on Crypto
Judge Lewis B. Kaplan instructed potential jurors not to do any research or read press coverage related to the case. However, during questioning, some jurors revealed their prior knowledge and experiences with cryptocurrencies. One juror mentioned investing in crypto and losing money, while another expressed negative feelings towards crypto.
Potential Witnesses for the Prosecution
An assistant U.S. attorney listed several potential witnesses for the prosecution, including former company executives, family members, and representatives from various institutions such as Jane Street Capital and Binance.
Six-Week Trial Expected
Judge Kaplan stated that the trial was expected to last about six weeks, but it could potentially conclude earlier. By the end of the first day, the jury selection process was not yet finalized, with completion expected on October 4. Opening arguments from both sides were anticipated to take around 90 minutes.
Hot Take: High Interest Surrounding SBF’s Trial
The trial of former FTX CEO Sam “SBF” Bankman-Fried has garnered significant attention from the media, crypto influencers, and the public. With an array of colorful observations about Bankman-Fried’s appearance and a diverse crowd attending the trial, it is clear that this case has become a focal point for many in the crypto community. As the trial progresses and witnesses are called, it will be interesting to see how it unfolds and what impact it may have on the broader crypto industry.
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