Sam Bankman-Fried’s Lawyers Seek Reconsideration On Rulings
The defense team representing Sam Bankman-Fried, the founder of FTX, has requested clarification and reconsideration on certain parts of the court’s rulings. This comes after testimony from former FTX CTO Gary Wang and former Alameda CEO Caroline Ellison, which has made the case challenging for Bankman-Fried and his defense team. The defense is seeking clarification on rulings that precluded them from mentioning Anthropic, cross-examining Wang and Ellison, and discussing FTX’s regulation in the US. These rulings have significant implications for the direction and outcome of the trial.
Caroline Ellison Makes Crucial Allegations
In her testimony, Caroline Ellison raised important allegations regarding potential Bitcoin price manipulation and financial concerns in the FTX trial. She claimed that Bankman-Fried instructed the insider team to keep Bitcoin below $20,000 and revealed that Alameda Research borrowed $13 billion from FTX clients under Bankman-Fried’s leadership. Ellison also testified about alleged bribes to unfreeze Chinese crypto assets. Additionally, it was suggested that FTX intentionally directed regulators towards Binance during its tumultuous period to increase regulatory scrutiny on the platform.
Hot Take: Defense Team Seeks Clarification on Rulings in Sam Bankman-Fried Trial
The defense team representing Sam Bankman-Fried has requested clarification and reconsideration on certain rulings in his trial. These rulings include restrictions on mentioning Anthropic, cross-examining key witnesses, and discussing FTX’s regulation in the US. The outcome of these requests could significantly impact the direction and outcome of the trial. Meanwhile, Caroline Ellison’s testimony has brought forth crucial allegations related to Bitcoin price manipulation and financial concerns within FTX. Her claims regarding Bankman-Fried’s instructions and alleged bribes have added complexity to the case. It remains to be seen how these developments will unfold in the ongoing trial.
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