Odaily News: In the documents submitted to the Southern District Court of New York on August 25th, SBF's legal team stated that the time for SBF to review the evidence before the trial is not sufficient if the prosecutor's proposal is followed. On August 24th, the US Department of Justice provided about 4 million pages of evidence materials, as well as "millions of pages of documents and a large amount of data" for SBF to review before the criminal trial. The lawyers stated that no measure other than temporarily releasing SBF can adequately address these issues and protect SBF's right to participate in their own defense. (Cointelegraph) Previously, it was reported that SBF would be allowed to meet with their lawyers in the Southern District Court of New York every day to prepare for the trial on October 2nd.

Odaily News: SBF lawyers submitted a motion for temporary release again on August 28, citing the same reasons as before, including poor internet conditions and insufficient laptop power in prison. (CoinDesk) Previously, in the documents submitted to the United States Southern District Court of New York on August 25, SBF's legal team stated that if the prosecutor's proposed plan is followed, SBF would not have sufficient time to review the evidence materials before the trial.

Odaily News SBF has appealed against its imprisonment verdict for alleged witness tampering. In a filing submitted to the U.S. Court of Appeals for the Second Circuit late last Friday, SBF's lawyer argued that SBF was merely exercising its First Amendment rights by sharing private documents of his former colleague and lover, Caroline Ellison, with a New York Times reporter. The intention was to defend his own reputation, not to intimidate. Prosecutors argued that SBF's actions constituted harassment towards Ellison and were intended to prevent others from testifying. (Reuters) Yesterday, SBF's lawyer filed another motion for temporary release, citing similar reasons as before, including poor internet conditions in prison and insufficient laptop power. The bottom line request is to allow SBF to meet with the defense team five times a week to help with trial preparation.

Odaily News - A prosecutor from the U.S. Department of Justice stated in a document that expert witnesses recommended by SBF should be prohibited from testifying because their disclosure documents are not sufficient and their relevant experiences may be misleading. The Department of Justice proposes to exclude seven expert witnesses recommended by the SBF team, citing reasons such as exceeding the scope of their opinions, lack of details, and invalid opinions. The document states, "Facts should be proven through acceptable written evidence and testimonies from professional witnesses who have firsthand information, rather than relying on expert witnesses without firsthand knowledge of the facts." (CoinDesk)

Odaily News: A court document on Tuesday revealed that US federal prosecutors are questioning SBF's allegations regarding evidence documents. Last Friday, SBF requested a ban from the Southern District of New York court, preventing a large number of documents from being used as evidence during the October trial. The reason behind this request is that the prosecutors provided SBF's defense team with "millions of pages" of documents in the two months leading up to the trial, which SBF argues may not have given them sufficient time to review. The prosecutors countered that this accusation is "misleading," as SBF had access to these documents through their Google account several months ago, thus making it unreasonable to claim that the government's materials provided were biased against them. In previous news, a document submitted to the Southern District of New York court on August 25 stated that SBF's legal team argued that, according to the prosecutors' proposed plan, SBF would have limited time to review the evidence materials before the trial. On August 24, the US Department of Justice provided approximately 4 million pages of evidence materials, along with "millions of pages of documents and a large amount of data" for SBF to review prior to the criminal trial. The lawyers stated that unless SBF is temporarily released, no other measures can appropriately address these issues or guarantee SBF's right to participate in their own defense.

Odaily News Sam Bankman-Fried’s (SBF) plan to argue that his lawyers approved alleged fraud during his tenure at FTX should be dismissed as “irrelevant,” U.S. Department of Justice lawyers said in a legal filing on Tuesday. Previously, SBF said he planned to place the blame on his former lawyer at law firm Fenwick West as part of his defence. U.S. Attorney Damian Williams said that without further details, the court should exclude irrelevant, confusing and prejudicial inquiries, evidence and arguments regarding the participation of counsel and argued that the SBF should specify the legal advice or waive his defense presented. (CoinDesk)

Odaily News According to the news published by Inner City Press in X, the lawyer representing SBF did not ask to change the trial date to prepare for the trial, but the federal judge provided a limited window period. Judge Lewis Kaplan said if the defense wanted more time to review, they could ask for a delay in the start of the trial, although there was no guarantee such a motion would be granted. However, these must be completed by September 1, when the jury selection process will begin. SBF faces 12 criminal charges, which will be tried on October 2, 2023 and March 11, 2024. SBF has pleaded not guilty to all charges. (Cointelegraph)

Odaily News: Court documents show that SBF may need to pay expert witnesses a fee of over $1000 per hour if they testify on its behalf. In the fraud trial scheduled for October 2nd, SBF may call upon seven expert witnesses, including Lawrence Akka, Thomas Bishop, Brian Kim, Joseph Pimbley, Bradley Smith, Peter Vinella, and Andrew Di Wu, according to a proposed list. According to court documents filed on August 28th, some witnesses, such as former Federal Election Commission Chairman Bradley Smith, will charge SBF's legal team $1200 per hour for testifying on matters related to US campaign finance laws and donations (Cointelegraph). Previously, a US Department of Justice inspector suggested in a filing that the expert witnesses recommended by SBF should be barred from testifying because their disclosure documents were not sufficient and their experiences may be misleading. The Department of Justice proposes excluding the seven expert witnesses recommended by SBF, citing reasons such as exceeding the scope of their opinions, lack of details, and invalid opinions. The filing states that "veracity should be proven through acceptable written evidence and testimony from professional witnesses with firsthand information, rather than relying on expert witnesses without firsthand knowledge of the facts."

Odaily News: Robinhood has reached an agreement with the United States Marshals Service (USMS) to repurchase the shares of Emergent Fidelity Technologies from SBF for $605.7 million. After FTX and Emergent filed for bankruptcy protection last year, Robinhood's shares were seized and subsequently handed over to the US government for safekeeping. (Reuters)

Odaily News: Documents submitted by FTX creditors represented by current CEO John J. Ray III reveal that Alameda Research previously transferred over $900 million to FTX founder Sam Bankman-Fried (SBF), as well as $3.5 million to former Alameda Research CEO Caroline Ellison. Additionally, former Alameda Research co-CEO Samuel Trabucco received $2.51 million (which was used to purchase a yacht).

Odaily News The U.S. Department of Justice said in a document filed late on Friday that FTX ads featuring comedian Larry David and American football player Tom Brady show that the lines between FTXs U.S. and international operations are increasingly blurred. Lawyers for SBF said that because its charges involve international operations, the U.S. operations should be legally separated. The U.S. government said the distinction was less clear-cut, citing a series of now-infamous ads that aired months before the crypto market crash and ultimately the collapse of the SBF empire. The U.S. Department of Justice document cites an FTX Super Bowl ad and says, “The ad featured celebrities describing ‘FTX’ as ‘a safe and easy way to get exposure to cryptocurrencies’ and showing customers using the FTX Logo.” Rather than a device with the FTX.US Logo.” Internal documents indicate that there is no difference between FTX’s advertising for international platforms and FTX.US. The U.S. Department of Justice also wants to investigate the details surrounding FTX’s collapse, which it believes are “inseparable” from its alleged misappropriation of customer funds. (CoinDesk)

Odaily News The US Department of Justice stated that SBF can now prepare defense materials through special isolated computers every day, which is 11 hours on working days and 7.5 hours on weekends and holidays. Previously, SBFs lawyer argued that SBF could only use the computer twice a week, and there were problems with the battery and signal, which had a major impact on the defense. (CoinDesk)

Odaily News In a September 6 filing to the U.S. Court of Appeals for the Second Circuit, Court Clerk Catherine OHagan Wolfe said a circuit judge rejected SBFs legal teams request to immediately remove SBF from the Metropolitan Brooklyn Detention Center Motion to release. SBFs lawyer once argued that SBF could only use the computer twice a week, and there were problems with the battery and signal, which had a significant impact on the defense. A motion for pretrial release will now go to a full three-judge panel; an additional criminal trial against SBF will begin on October 3 in the U.S. District Court for the Southern District of New York. (Cointelegraph)

Odaily News Former FTX executive Ryan Salame pleaded guilty to federal criminal charges related to FTX on Thursday and was released on $1 million bail. He will be confiscated over $1.5 billion in assets. Salame pleaded guilty to conspiracy to make illegal political donations and to defraud the Federal Election Commission, as well as conspiracy to operate an unlicensed money transmission business. During his guilty plea, Salame told Judge Lewis Kaplan that he made political donations in his own name and the funds came from transfers from an Alameda subsidiary. The transfers were classified as loans but it was known that the money would not be repaid. According to Salame, the donations are intended to help initiatives initiated by others but supported by SBF. Salame has been ordered to hand over more than $1.5 billion in assets as part of a plea deal with the government. He agreed to pay a $6 million fine before sentencing next March. To make the payment, Salame has agreed to give the government a 2021 Porsche and multiple properties, including two homes in Massachusetts, as well as title to the East Rood Farm company he owns. Additionally, Salame was ordered to pay over $5.5 million in damages to FTX debtors. (CoinDesk)

Odaily News SBFs defense attorney said in a memo late Friday that prosecutors exaggerated SBFs ability to access defense materials. It is said that when SBF was taken to a cell in the Southern District of New York Court, he still could not access the Internet normally, and it was far from the level that the Department of Justice said he could access the Internet. SBFs defense team has sought to have him temporarily released or given more computer access to mount a defense, saying his Sixth Amendment rights were violated; while prosecutors insist they revoked bail last month on public safety grounds. Finally, SBF can obtain defense materials. It is reported that earlier this week, the U.S. Department of Justice submitted a letter saying that SBF now has access to multiple hard drives provided by the defense that store defense materials, as well as a laptop with an air-gapped system every day, and a Internet-connected laptop with new battery provided by defense counsel. In response, defense attorneys wrote that the scheme did not work in practice, and Judge Lewis Kaplan ordered SBFs team to detail what they believed to be inaccuracies. Fridays letter detailing the issues said SBF was taken to court on Wednesday and given access to a computer with internet access, but due to poor internet speeds he could only load one document. The letter said: Nearly a full month has passed since Mr Bankman-Fried (SBF) was remanded in custody and we have lost time to effectively prepare for trial. We would therefore like to reiterate our request that the court order an interim release Mr. Bankman-Fried. (CoinDesk) Previous news, in a document submitted to the U.S. Court of Appeals for the Second Circuit on September 6, court clerk Catherine OHagan Wolfe stated that a circuit judge dismissed the SBF legal teams request Motion to immediately release SBF from Brooklyn Metropolitan Detention Center. SBFs lawyer once argued that SBF could only use the computer twice a week, and there were problems with the battery and signal, which had a significant impact on the defense.

Odaily News: The lawyer for FTX founder SBF submitted a motion for pretrial release for the second time, citing poor network conditions in prison. The SBF legal team argued that poor network conditions hampered their defense preparations, resulting in wasted time, and that official promises to allow SBF to use laptops between 8am and 7pm on weekdays were not fulfilled. (Cointelegraph)

Odaily News According to court documents, the assets of the bankrupt crypto exchange FTX included digital assets, cash, brokerage investments, venture capital portfolios, tokens and real estate, totaling $7 billion. FTX owns 38 properties in the Bahamas with a book value of $222 million. The documents show that 50 insiders including SBF and Caroline Ellison received $2.2 billion worth of cash, cryptocurrency, equity and real estate. (Cointelegraph) Previously, FTX creditor @sunil_trades released an FTX shareholder report updated on September 11 on the X platform. The report pointed out that based on the market price on August 31, FTX (including FTX.com, FTX.US, Alameda) held a total of approximately US$3.4 billion worth of crypto assets. Sorted according to the value of the positions, the order is: 1. SOL, the position value is about 1.162 billion U.S. dollars; 2. BTC, the position value is about 560 million U.S. dollars; 3. ETH, the position value is about 192 million U.S. dollars; 4. APT, the position value is about 1.37 5. USDT, with a holding value of approximately $120 million; 6. XRP, with a holding value of approximately $119 million; 7. BIT, with a holding value of approximately $49 million; 8. STG, with a holding value of approximately $46 million; 9. WBTC , with a position worth approximately US$41 million; 10. WETH, with a position worth approximately US$37 million. The above-mentioned 10 major currencies account for 72% of the total FTX crypto asset holdings, and the remaining 28% of the holdings are composed of more than 400 other tokens.

Odaily News U.S. Federal Judge Lewis Kaplan on Tuesday rejected SBF’s repeated motions for pretrial release. SBF had previously been free on bail, but a Southern District of New York judge revoked his bail last month after finding he had tried to tamper with witnesses at least twice. Two of the SBFs attorneys, Mark Cohen and Christian Everdell, argued in written submissions and at the virtual hearing that the SBF needed to access much of the evidentiary material that can only be accessed through an online database and contribute to a shared document detailing its work. contribute. The judge said that neither the SBF nor any other defendant had the right to inspect all evidentiary materials. And SBF has a large number of very capable legal representatives who can handle these materials. Both prosecutors and defense requested a trial in September or October, and the judge agreed. The trial is currently scheduled to begin on October 3. (CoinDesk)

Odaily News FTX founder SBF will face a criminal trial on October 3, and the jury in the case is currently being selected. His legal team submitted a list of proposed questions they would like to ask potential jurors before the trial, including 64 questions in total, such as whether they or their family members or acquaintances have ever lost money trading cryptocurrency, and whether they have ever interacted with someone with ADHD. Dealing experience, etc. The jurys final question will be determined by Judge Lewis A. Kaplan, who is presiding over the case, with input from both the defense and prosecution. (Forbes)

Odaily News FOX Business reporter Eleanor Terrett posted on the X platform that the SBF trial has been postponed from October 2 to October 3, Eastern Time, and jury selection will begin at 9:30 on October 3, Eastern Time. It was previously reported that SBF will face a criminal trial on October 3, and the jury for the case is currently being selected. His legal team submitted a list of proposed questions they would like to ask potential jurors before the trial, including 64 questions in total, such as whether they or their family members or acquaintances have ever lost money trading cryptocurrency, and whether they have ever interacted with someone with ADHD. Dealing experience, etc. The jurys final question will be determined by Judge Lewis A. Kaplan, who is presiding over the case, with input from both the defense and prosecution.

Odaily News SBF’s father, Stanford University law professor Joe Bankman, is also closely involved in the operation of FTX. He has participated in many decisions of FTX, including tax issues, and provided marketing materials for FTX and FTT. In addition, SBF often consulted his father on legal issues, and a former FTX staff member said that when employees came up with any legal advice, SBF would say that he needed to call Joe first. (Bloomberg)

Odaily News The US government responded to the questions the defense asked potential jurors in the SBF case when they were selected. Prosecutor Damian Williams expressed objections to four questions: The preliminary examination submitted by the defendant contained many unnecessary and time-consuming questions. , often prompting open-ended discussions, as well as questions of repetition, bias, and controversy. The four issues were pretrial advocacy, altruistic philosophical campaigns, political donations and lobbying, and attention deficit and hyperactivity disorder. (Cointelegraph)

Odaily News SBF saved an unpublished 15,000-word article on the In addition, the article contained information about SBF’s personal relationship with former Alameda CEO Caroline Ellison, stating that Ellison refused SBF’s request to prevent Alameda trade hedging, resulting in SBF sending one of the “meanest words ever said to her.” Information. (Cointelegraph)

Bankrupt cryptocurrency exchange FTX has sued Joseph Bankman and Barbara Fried, the parents of founder and former CEO Sam Bankman-Fried, seeking to recover millions of dollars in fraudulent claims, ​​a court filing said on Monday. transfer and misappropriation of funds”. Court documents state: “FTX Trading paid $18,914,327.82 for Blue Water, for which Bankman and Fried obtained title, including taxes, fees and costs, and various charges related to Blue Water, totaling more than $90,000. Bankman’s knowledge of tax laws and His unique understanding of the FTX Group’s chaotic corporate structure allowed him to facilitate the transfer of cash gifts totaling $10 million consisting of Alameda Ltd. funds to himself and Fried.” (CoinDesk)

Odaily News FTX’s lawsuit against Joe Bankman and Barbara Fried, the parents of founder SBF, has been countered by legal representatives of SBF’s parents. Lawyers stated that this action by FTX was an attempt to intimidate Joe and Barbara in the days before SBFs upcoming trial and undermine the jury process. FTX alleges that SBF’s parents “used their access and influence within FTX’s businesses to directly and indirectly earn millions of dollars for themselves.” Court documents also claim that Joe lobbied SBF to increase his annual salary from $200,000 to $1 million, and asked SBFs mother to facilitate the process. Additionally, the filing states that the couple used FTX funds to receive a $16.4 million property in the Bahamas, as well as donations to Stanford University, participation in a Super Bowl commercial and a Persian rug worth more than $2,500. (The Block) Earlier news, FTX has sued Joseph Bankman and Barbara Fried, the parents of founder and former CEO Sam Bankman-Fried, requesting the recovery of millions of dollars in fraudulent transfers and misappropriations. Court documents state: FTX Trading paid $18,914,327.82 for Blue Water, for which Bankman and Fried obtained title, including taxes, fees and costs, and various charges related to Blue Water, totaling more than $90,000. Bankmans knowledge of tax laws and His unique understanding of the FTX Group’s chaotic corporate structure enabled him to facilitate the transfer of cash gifts totaling $10 million consisting of Alameda Ltd. funds to himself and Fried.”

Odaily News On Tuesday, local time, the U.S. Court of Appeals for the Second Circuit postponed a decision on SBF’s appeal to end pretrial detention on federal fraud charges. There are still two weeks before SBF’s trial begins. A panel of judges on the 2nd U.S. Circuit Court of Appeals said they would consider the arguments from both sides after solicitation. SBF lawyers have argued that SBF cannot adequately prepare its defense in prison. If the appeal is dismissed, SBF is unlikely to be given a chance to be released from prison before the trial begins on October 3. (CoinDesk) Earlier news, last week, US federal judge Lewis Kaplan rejected SBF’s repeated motions for pretrial release. SBF had previously been free on bail, but a Southern District of New York judge revoked his bail last month after finding he had tried to tamper with witnesses at least twice.

Odaily News According to CNBC, FTX alleged that SBF mother Barbara Fried served as a key adviser to SBF and its allies for political campaign donations, was a key person in SBFs political donation strategy, and encouraged SBF and those close to him by participating in “Straw donations” or otherwise concealing FTX as the source of the contributions to evade federal campaign finance disclosure rules.”

Odaily News U.S. Federal Judge Lewis Kaplan on Thursday granted the Justice Department’s motion to prevent all witnesses proposed by SBF from testifying in the October trial. The SBF defense team had previously hoped to call seven people to testify, including British barrister Lawrence Akka, consulting company executives Thomas Bishop and Joseph Pimbley, data analysis and forensics expert Brian Kim, Capital University School of Law law professor Bradley Smith, and University of Michigan assistant professor Andrew Di Wu. The U.S. Department of Justice objected, citing reasons including a lack of clarity about what the witnesses would discuss and their unfitness to testify in a U.S. criminal trial. Judge Kaplan agreed with all of the Justice Departments objections but said the defense could try to call Bishop or Kim to respond to questions from Justice Department witness Peter Easton, an FBI agent. Prosecutors plan to call Peter Easton to testify about customer deposits based on an analysis of FTX data. (CoinDesk)

Odaily News A three-judge panel of the U.S. Court of Appeals for the Second Circuit rejected SBF’s motion for early release on September 21. The jury based its decision primarily on the First Amendment and said Judge Lewis Kaplan, who was responsible for SBFs criminal case, had correctly determined that SBFs remarks constituted witness interference. The Court of Appeal ruling could be one of SBFs last chances to be released before his criminal trial on October 3, with less than two weeks remaining. The first criminal trial against SBF is scheduled to begin on October 3. The second trial is expected to begin in March 2024. SBF currently pleads not guilty to all charges. (Cointelegragh) Earlier news, last week, US federal judge Lewis Kaplan rejected SBF’s repeated motions for pretrial release. SBF had previously been free on bail, but a Southern District of New York judge revoked his bail last month after finding he had tried to tamper with witnesses at least twice.

Odaily News FTX founder SBF will go to trial in less than two weeks to defend his case against charges that he knowingly committed fraud and conspired to defraud crypto investors and customers of FTX and Alameda Research. The trial is expected to take six weeks and is scheduled to begin on October 3. CoinDesk issued a statement stating that the trial process of this case includes jury selection, reasonable doubt, unanimous verdict and sentencing. Regarding jury selection, legal experts said that although the trial is scheduled to begin next month, the first steps in jury selection may begin as early as next week, when the judge will set the final witness schedule, determine the length of the trial, and evaluate all pending cases. Motion for ruling. Jury questioning will officially begin on October 3. The judge will ask potential jurors a series of questions, and will then begin to ask jurors questions from both the prosecution and the defense. Attorneys believe a fierce battle between the defense and prosecution for each juror could take days, but the Justice Department believes it will only take a day. Regarding reasonable doubt, the trial begins with opening statements from the U.S. Department of Justice and the defense, followed by the presentation of evidence and questioning of witnesses by the U.S. Department of Justice. Pretrial filings from the U.S. Department of Justice indicate that in addition to written documents, prosecutors will provide audio recordings during the trial. The U.S. Department of Justice may turn to FBI agents as first witnesses, or it may call in people from FTXs inner circle. Given that this is a criminal trial, the Justice Department must prove guilt “beyond a reasonable doubt.” In civil cases, the “preponderance of the evidence” standard is lower. Once the prosecution adjourns, the defense will have a chance to present additional witnesses. It is unclear whether SBF will testify in its own defense. Regarding unanimous verdicts, federal criminal trials require unanimous verdicts to obtain a conviction. If the jury consists of 12 people, all 12 must find SBF guilty at the end of the trial, and the defense only has to convince one juror that there was insufficient evidence. If the jury comes back after several attempts to reach a verdict and expresses that they have irreconcilable differences on all charges, the judge may declare a mistrial. Otherwise, the jury may reach a conviction on all or some of the charges, or convict on all or some of the charges. Acquitted. Regarding sentencing, if SBF is convicted of one or more of the charges he faces, how long he will spend in prison will largely depend on the judge. Sentencing guidelines are viewed more as a starting point than strict rules. The U.S. Probation and Pretrial Services System will first create a report that includes preliminary calculations of recommended sentencing ranges, before the Department of Justice and defense teams can raise any objections arguing for a longer or shorter sentence. His team is also likely to appeal if SBF is convicted. This is not the SBFs last criminal trial. He will also face new charges filed by the Justice Department early next year following an initial indictment. (CoinDesk)

Odaily News FTX’s former law firm Fenwick West has denied accusations of assisting FTX in its alleged fraud. The law firm has filed a motion to dismiss the lawsuit, claiming that the services it provided to FTX were standard legal services and that it had no knowledge of any fraudulent activity. It is reported that this is the first time the law firm has publicly defended charges related to FTX and its co-founder SBF. (Cryptonews) According to previous news in August, Fenwick West was subject to a class action lawsuit, accusing it of helping FTX complete a multi-billion dollar fraud. The lawsuit, filed on Aug. 7 by a group of FTX clients, alleges that Fenwick West provided services to FTX that went far beyond what a law firm should and typically provide, such as organizing FTX US in a manner that circumvented regulatory scrutiny. The acquisition provides staff to execute the law firms strategy. The “shadow entities” referred to in the lawsuit are North Dimension and North Wireless Dimension, accusing them of misappropriating funds from FTX customers.

Odaily News According to a court document filed late Thursday, FTX has sued former employees of Salameda, seeking to recover approximately $157.3 million. Salameda is a Hong Kong-registered entity affiliated with FTX and allegedly controlled by SBF. The documents allege that Michael Burgess, Matthew Burgess, their mother Lesley Burgess, Kevin Nguyen, Darren Wong and two companies owned or controlled several companies with accounts registered at FTX.com and FTX US, and that in the days leading up to FTXs bankruptcy fraudulently withdrawn assets. It is said that within the 90 days before FTX filed for bankruptcy on November 11, 2022, the so-called priority period, the defendants obtained withdrawal benefits that constituted a priority transfer, which was avoidable under the bankruptcy law. The defendants scrambled to withdraw assets and used their relationships with FTX personnel to ensure their withdrawal requests were prioritized over other customers. (CoinDesk)

Odaily News In recent months, SBF has criticized Sullivan Cromwell in court documents and social media for using it as a scapegoat for the collapse of FTX, while downplaying its relationship with the exchange. Meanwhile, criticism of Sullivan Cromwell has become more widespread recently, with the firm racking up more than $100 million in legal fees as a result of FTXs bankruptcy. (Fortune)

Odaily News CoinDesk issued an article analyzing SBF’s accusations. The article stated that according to the U.S. Department of Justice, SBF was charged with wire fraud, wire fraud conspiracy, money laundering conspiracy, commodities fraud, securities fraud, and campaign financing conspiracy. SBF totaled The total sentence is 115 years. But given the seriousness of the crime and estimated losses, SBF could spend around 10 to 20 years in prison if found guilty, according to several lawyers CoinDesk spoke to. However, Judge Kaplan has broad discretion and his opinion shall prevail in the final decision.

Odaily News According to the latest court documents, SBFs defense team has re-filed an application for interim release during the upcoming trial, citing the difficulty of preparing an adequate defense under current restrictions. The legal team said the SBFs knowledge and involvement would be crucial in reviewing thousands of pages of investigative material and financial records involving complex matters if he remains in custody. To allay possible flight risk concerns, the defense proposed conditions such as private security escorting SBF between approved locations and restricting his use of communications devices during his temporary release, with a willingness to accept additional restrictions deemed necessary by the court. (CryptoSlate) Previously, a three-judge panel of the U.S. Second Circuit Court of Appeals rejected a motion to release SBF early on September 21. The jury based its decision primarily on the First Amendment and said Judge Lewis Kaplan, who was responsible for SBFs criminal case, had correctly determined that SBFs remarks constituted witness interference.

Odaily News Former FTX CEO Sam Bankman-Fried is currently living in the Brooklyn Metropolitan Detention Center, one of the most notorious correctional facilities in the United States. SBF has been living in jail for six weeks after losing bail, and conditions are a far cry from the former billionaires old Caribbean home. The internet is slow and the living quarters are filthy, SBFs lawyers said. Cafeteria supplies were sparse. The SBF subsisted on bread and water, sometimes peanut butter. The Brooklyn Metropolitan Detention Center is a large two-building prison complex that houses more than 1,600 male and female inmates, many of whom are still Awaiting trial. Prisoners currently in custody also include former Honduran president Juan Orlando Hernandez, who has pleaded not guilty to drug trafficking charges, and Chinese businessman Guo Wengui, who has pleaded not guilty to fraud charges. An orientation manual for the facility shows that inmates wake up at 6 a.m. and must make beds, mop floors and pick up trash. From there, inmates like SBF may go to work around the prison, serving as prep cooks in the prison kitchen, providing janitorial services throughout the complex, or assisting in the prisons maintenance shop. At 11 a.m. they have lunch. Dinner was served at 4 p.m. The meal was supposed to include meats such as turkey, starch such as rice, and vegetables or fruit, but inmates were actually eating cold cuts, sandwich bread, moldy pound cake and other unidentifiable foods from the kitchen ”, SBF is a vegetarian, and if he doesn’t like the food served in the cafeteria, he can use his weekly $150 concession stand allowance to buy peanut butter and jelly sandwiches, worth $3.65 each. According to the rules of the complex, he can buy up to two of them per day. Prisoners can rest. However, the detention center has no areas for recreational activities. SBF will have to hang out with his fellow inmates in an indoor community room where they can play cards, chat and watch TV. Rooms in dormitories and prisons are kept in semi-darkness 24 hours a day, and prisoners can often be heard shouting loudly in their cells throughout the night. Many areas of the detention center lack heating, and most facilities have few air conditioning units. At the end of each day, SBFs may end up in communal dormitories with rows of bunk beds. However, it is also possible that he has been placed in protective custody and given his own separate room. (CoinDesk)

Odaily News U.S. District Judge Lewis Kaplan in Manhattan said that prosecutors in the case of FTX founder SBF can discuss SBF’s political donations in the upcoming trial because these donations are closely related to the fraud charges he faces. Evidence that Defendants used FTX client funds for political contributions is direct evidence of a wire fraud scheme as it is relevant to establishing Defendants motives and alleged fraudulent intent, Kaplan wrote. (Reuters)

Odaily News Judge Lewis Kaplan, who oversees SBFs criminal case, resolved most of the pending restraint or pretrial motions in a 16-page order, ruling that SBF attorneys can question Justice Department witnesses during next months fraud trial about their use of entertainment. The sex drug problem. In addition, the judge rejected the Justice Department’s motion to prevent the defense team from questioning witnesses on privilege issues, and rejected the SBF team’s motion to suppress evidence related to the FTX bankruptcy; the judge allowed the Justice Department to present evidence showing that SBF not only created FTT tokens, Alameda was also instructed to hold large amounts of FTT and support market manipulation of the token. (CoinDesk)

Odaily News The U.S. Department of Justice opposes the latest motion for pretrial release of SBF because the proposed conditions do not meet the legal requirements for the defendant (there are strict restrictions), and said that the argument that SBF cannot effectively participate in the defense work is very vague. Given the experience of its legal team, these arguments are untenable. (CoinDesk) According to previous news on September 26, SBF’s defense team re-submitted an application for temporary release against SBF on the grounds that it is difficult to prepare an adequate defense under the current restrictions. The legal team said the SBFs knowledge and involvement were critical in reviewing thousands of pages of investigative materials and financial records involving complex matters. To mitigate possible flight risk concerns, the defense proposed conditions such as private security personnel escorting SBF between approved locations and restricting his use of communications devices during his interim release, and the defense indicated a willingness to accept any additional conditions deemed necessary by the court. limit.

Odaily News District Judge Lewis Kaplan of the Southern District of New York has granted a request by SBF’s defense attorneys to allow SBF to use a laptop without an Internet connection to take notes during next month’s trial, but it cannot be taken out of the courtroom. A paralegal will be assigned to bring the laptop to the court each morning and retrieve it from the SBF after the trial. The trial is scheduled to begin on October 3. In addition, the judge also approved SBF to wear a suit in court. (CoinDesk)

Odaily trial judge Lewis Kaplan dismissed SBFs application for interim pre-trial release, suggesting that SBF might run away if things began to go against him at trial, based on his age and potential jail time. (Cointelegraph) According to previous news on September 26, SBF’s defense team re-submitted an application for temporary release against SBF on the grounds that it is difficult to prepare an adequate defense under the current restrictions. The legal team said the SBFs knowledge and involvement were critical in reviewing thousands of pages of investigative materials and financial records involving complex matters. To mitigate possible flight risk concerns, the defense proposed conditions such as private security personnel escorting SBF between approved locations and restricting his use of communications devices during his interim release, and the defense indicated a willingness to accept any additional conditions deemed necessary by the court. limit.

Odaily News The newly released court trial calendar shows that Sam Bankman-Fried’s trial is scheduled to begin on October 3, but the actual opening arguments are expected to begin a day later. Assistant U.S. Attorney Danielle Kudla said the Justice Department estimates the case will take four to five weeks. Mark Cohen, a lawyer representing SBF, said the defense case was more streamlined and could take up to a week and a half if the defense chose to present its case. The judge noted that the trial schedule may be extended as a result, but regardless, the consensus seems to be that the trial will end before Thanksgiving in late November. (CoinDesk)

Odaily News SBFs defense team alleged in a filing late Friday that some juror questions asked by the U.S. Department of Justice could lead to bias and make jurors think SBF is guilty before the trial begins. Specifically, the defense team argued that omitting the word allegedly when describing SBFs alleged crimes improperly suggested that Bankman-Frieds fraud was an established fact. Other questions were too limited and may not reveal anything to potential jurors. Whether you are inclined to agree with the prosecutors point of view. (CoinDesk)

Odaily News The U.S. Department of Justice confirmed in two documents filed on Saturday that federal prosecutors hope to subpoena former FTX customers, investors and employees in the trial against SBF. Cooperating witnesses can speak about their relationship with the defendant and their understanding of the purpose of certain statements and actions by the defendant. Additionally, client witnesses may testify for no more than 30 minutes at a time and will involve minimal exhibits. The U.S. Department of Justice identified former FTX chief technology officer Gary Wang, former FTX engineering director Nishad Singh, and former Alameda Research CEO Caroline Ellison as three cooperating witnesses. They all admitted to FTX-related charges and will testify in court. (CoinDesk)

Odaily News Court documents show that U.S. District Court Judge Lewis A. Kaplan said on Sunday that SBF cannot blame FTX’s collapse or operations on its lawyers in opening statements, although he can still try to mount a so-called “counsel advice” defense later. . Previously, the SBF defense team claimed that FTX lawyers were “involved” in some of the company’s decisions. But Judge Kaplan said the lack of specific details could confuse or bias jurors. While the judge prevented the SBF defense team from mentioning outside counsel in opening statements, SBF lawyers could try to raise the issue later if they notified the judge and the Justice Department in advance and the jury was not present. (CoinDesk) According to previous news in August, SBF plans to argue at the trial in October that his previous provision of funds to FTX and Alameda executives, setting Signal messages to automatically delete, and setting up a series of North American entities were all out of good faith. conduct because he followed the advice of attorneys, including the law firm Fenwick West. SBFs defense team issued a letter detailing its proposed counsel advice strategy, saying it would provide evidence that in-house counsel and law firm Fenwick West were involved in reviewing and approving decisions relating to these matters. The defendants reliance on counsels evidence is relevant to the question of intent and is not limited to circumstances where the defense can demonstrate that the defendant formally sought the advice of counsel, received legal advice and followed the advice given, the letter said.

Odaily News The Big Short author Michael Lewis said in an interview with CBS that SBF had considered paying Trump $5 billion to stop running for president of the United States. Lewis added that the SBF had also been investigating whether it was legal to do so. Sams question was not just Is paying Trump $5 billion enough to keep him from running? but Is this legal? SBF spokesman Mark Botnick declined to comment on Michael Lewiss remarks. (The Block) According to previous news in September, Michael Lewiss new book about SBF Going Infinite: The Rise and Fall of a New Tycoon is scheduled to be published on October 3. Multiple sources revealed that Apple purchased the rights to the book for $5 million.

Odaily reported that the U.S. prosecutor made a request to the federal court to allow a Ukrainian witness to testify via video conference, but the SBF did not agree to the U.S. prosecutor’s request. Prosecutors said in the document that the customer witness FTX Customer-1 lived in Ukraine and when Russia and Ukraine broke out in armed conflict in 2022, he lost most of his life savings that he had entrusted to FTX. Due to legal and logistical reasons, The reason is that the witness cannot easily travel to the United States, and prosecutors hope to allow him to testify remotely in the SBF criminal trial. (CNBC) Earlier news, the U.S. Department of Justice confirmed in two documents filed on Saturday that federal prosecutors hope to subpoena former FTX customers, investors and employees in the trial against SBF. Cooperating witnesses can speak about their relationship with the defendant and their understanding of the purpose of certain statements and actions by the defendant. Additionally, client witnesses may testify for no more than 30 minutes at a time and will involve minimal exhibits. The U.S. Department of Justice identified former FTX chief technology officer Gary Wang, former FTX engineering director Nishad Singh, and former Alameda Research CEO Caroline Ellison as three cooperating witnesses. They all admitted to FTX-related charges and will testify in court.

Odaily News The Big Short author Michael Lewis said in an interview with CBS that SBFs fund management of FTX is chaotic. When Lewis asked SBF how to clearly distinguish the $8 billion is not yours, but is in your private fund. SBF responded: When it goes in there, its a rounding error...it feels like we have infinite dollars...I havent even thought about it. Good friends also say, Hes not made for management. Lewis added that SBF did not know the names of other board members and seemed to view their role as just a rubber stamp. (coindesk)

Lawyers for SBF tried to prevent a Ukrainian client from testifying remotely in the trial against SBF. The defense team said the remote testimony violated their clients Sixth Amendment rights and would only elicit sympathy and outrage from the jury, with the witnesss unique proposed testimony citing suffering and personal circumstances caused by Russias invasion of Ukraine (The Block)

Odaily News The first day of the trial of FTX founder Sam Bankman-Fried in the U.S. District Court for the Southern District of New York ended, but the jury members have not yet been determined, and dozens of potential jury members have been eliminated. Judge Lewis Kaplan said about 50 people remained on the shortlist at the end of the day. Twelve jurors and six alternates are expected to be selected Wednesday morning local time, and opening statements are expected to begin shortly thereafter. The prosecution is expected to give opening statements for approximately 25-30 minutes, while the defense is expected to take 35-40 minutes. The first witnesses will take the stand later in the day. (CoinDesk)

Odaily News The Big Short author Michael Lewis revealed in his new book Going Infinite that former FTX CEO Sam Bankman-Fried was worried that his employees would hold a large amount of SRM tokens due to the sharp rise in the price of Serum (SRM) tokens in 2021. Get rich and you may no longer be willing to work 14 hours a day for your crypto trading platform. Therefore, Bankman-Fried modified the release rules for SRM tokens so that employees must wait longer before selling these tokens. (CoinDesk)

Odaily News The Big Short author Michael Lewis revealed in his new book Going Infinite that FTX founder Sam Bankman-Fried (SBF) proposed cooperation to Binance founder CZ in early 2019, hoping to sell it for $40 million. The cryptocurrency futures trading platform technology developed by the team was introduced to Binance. In this proposal, Alameda Research is responsible for providing technical support, while Binance is responsible for bringing customer and market trust. After detailed deliberation, CZ decided to reject SBF’s proposal and chose to independently develop a futures trading platform. To this end, SBF has turned to independent development, intending to build a futures trading platform that can not only satisfy the cryptocurrency community, but also cater to large professional trading companies such as Jane Street. FTX initially issued 350 million FTT tokens, some of which were provided to employees at 5 cents, and some to important cryptocurrency figures, including CZ, at 10 cents. Although CZ and most FTX employees chose to refuse, the strong purchase demand from external investors prompted SBF to increase the token price from 20 cents to 70 cents. On July 29, 2019, FTT was listed on FTX, opening at $1 and later rising to $1.5. A few weeks later, CZ contacted SBF with an offer to buy 20% of FTX for $80 million.

Odaily News The Big Short author Michael Lewis disclosed in his new book Going Infinite that in the face of increasing regulatory scrutiny, especially the regulatory agencies strict requirements for FTX investor lists and their personal details, SBF believes that maintaining CZ as a FTXs second-largest shareholder is no longer in the companys long-term interests. A former Binance employee revealed: “When asked about CZ’s private information such as family and residence, CZ was reluctant to provide it.” In order to avoid this regulatory pressure, SBF proactively proposed a buyback to CZ in mid-2021 For the FTX shares it purchased for US$80 million at the end of 2019, CZ raised an asking price of US$2.2 billion. Despite the high price, SBF agreed to pay. But when the two parties were about to sign a formal agreement, CZ suddenly requested an additional $75 million. SBF agreed to this additional fee and ultimately completed the share buyback.

Odaily News The Big Short author Michael Lewis disclosed in his new book Going Infinite that since the establishment of Alameda Research in 2017, the 26-year-old SBF has raised nearly $170 million from the effective altruism community. SBF will The funds invested in the cryptocurrency market and lost millions of dollars in the first few months, losing more than $500,000 a day in one month, while some trading funds simply disappeared due to poor fund management. In addition, SBF once used a robot program called Modelbot to trade nearly 500 tokens on about 30 exchanges, but the program did not distinguish between highly liquid cryptocurrencies such as Bitcoin and Ethereum and memecoin, which has sparse trading volumes. Stirring concerns among Alamedas early employees, things didnt start to improve until Gary Wang and Nishad Singh joined the company. Wang is said to have programmed a quantitative trading system and started making money for Alameda, while Singh integrated various parts to manage the company. (CoinDesk)

Odaily News U.S. prosecutors reiterated on Wednesday that the existing legal framework is sufficient to charge Sam Bankman-Fried with fraud-related violations. In a filing on Wednesday, the U.S. Department of Justice rejected the SBFs claim that there was a lack of evidence of cryptocurrency regulation. Prosecutors said that prohibiting the misappropriation of customer assets was the law the defendants were accused of violating, and that the lack of regulation was related to whether the victim entrusted the money. Giving the defendant custody is irrelevant, and evidence or arguments about lack of supervision will only confuse the jury. In addition, the U.S. Department of Justice responded that it has no objection to SBF providing acceptable evidence regarding charitable activities, as long as the evidence is for an appropriate purpose, including not for inclination or character purposes. (The Block)

Odaily News Artificial intelligence company Anthropic has raised new funds from Google and other investors, which may increase its valuation to $30 billion, a cryptocurrency bankruptcy lawyer said, considering that Sam Bankman-Fried (SBF) holds Having shares in the company could mean that FTX creditors may be paid out in full. Anthropic is seeking to raise at least $2 billion in new funding, following Amazons $1.25 billion injection into OpenAIs archrival last week, The Information reported on Tuesday. Anthropic said in a blog post last week that Amazon would invest up to $4 billion in the company. According to media reports citing two people familiar with the matter, Google has acquired about 10% of the companys shares in 2022 and may conduct a new round of investment. With the new funds, the companys valuation may climb to US$20 billion to US$30 billion. between. (The Block)

Odaily News The U.S. Department of Justice stated in the opening statement of the trial of FTX founder SBF that SBF’s entire cryptocurrency empire is a “house of cards built on lies.” SBF defense lawyers argued in their opening statements that SBF, the founder of FTX and Alameda Research, never intended to steal customers funds. He was simply overwhelmed by the rapid growth of the two companies. SBF acted in good faith and did not deceive anyone. (CoinDesk)

Odaily heard that 12 jurors in the SBF trial have been confirmed, and there are six alternate jurors. Over the next six weeks, they will decide whether SBF is guilty of seven charges related to fraud and money laundering. There are 12 jurors, 9 women and 3 men, ranging in age from 33 to 69 years old. (TechCrunch)

Odaily News Prosecutors filed documents on Wednesday showing that a Bombardier Global 5000 BD-700-1A11 and a Legacy EMB-135BJ manufactured by SBF will be confiscated. The two aircraft were purchased for US$15.9 million and US$12.5 million respectively. Beginning around October 2021, TIA, a private jet charter operating company in the Bahamas, began providing services to SBF and other FTX executives, employees, business partners, guests, family and friends. In total, the company has provided more than $15 million worth of private jet charter operations. Charter flights and other shipping services. After purchasing two private jets, FTX wanted to upgrade the aircraft, including state-of-the-art WiFi and a completely new interior. But as of last November, when FTX folded, the upgrades were still in progress, so the two aircraft Never been used. (TheBlock)

Odaily News FTX co-founder Gary Wang testified in court on Thursday that SBF had allowed Alameda to withdraw funds unlimitedly. Alameda has a large credit limit for faster order execution on the FTX platform and unlimited withdrawals of funds. Gary Wang mentioned that when FTX collapsed, Alameda had withdrawn $8 billion from the platform and $65 billion from its credit line. Gary Wang also stated that his personal annual salary is US$200,000 and he holds 17% of FTX’s shares, while SBF owns approximately 65% ​​of the company’s shares. At the same time, SBF also holds 90% of Alameda Research, while he only holds 10%. The SBF is responsible for public-facing duties such as lobbying and talking to the media, while his responsibilities are limited to the code. (Decrypt)

Odaily News Paradigm co-founder Matt Huang testified in court on Thursday regarding the SBF case and described the process of Paradigm investing a total of approximately US$278 million in FTX twice. Matt Huang said that he was excited by FTX’s rapid early market share growth, but he was concerned about FTX’s lack of formal governance structure or even board of directors, and SBF had told him that Alameda Research did not have preferential treatment at FTX. In addition, Matt Huang also mentioned that Paradigm’s investment in FTX has been accrued to zero. (The Block)

Odaily News Former FTX senior engineer Adam Yedidia testified in court on Thursday that he had met with SBF in June 2022 and asked SBF about the status of FTX. SBF’s answer was “We were ‘invulnerable’ last year, but not this year. , it could take us six months to three years to correct this. Later, SBF also told Adam Yedidia that he had tried to raise funds from the United Arab Emirates to expand cash reserves, but was unsuccessful. (Fortune)

Odaily News Caroline Ellison, the former CEO of hedge fund Alameda Research, is likely to be the next witness to testify in the SBF trial, replacing former FTX executive Gary Wang. After the trial ended early Friday, the U.S. Department of Justice said Gary Wangs testimony would end on Tuesday, and prosecutors expected the next witness to be Ellison. Like Gary Wang, Ellison pleaded guilty to multiple fraud charges in December. The court will not be in session next Monday due to Columbus Day and will resume proceedings at 9:30 a.m. ET on Tuesday. (CoinDesk)

Odaily News FTX Lianchuang Gary Wang testified in the SBF trial that in November 2022, FTX’s customer balances were equal to the assets held in the hot wallet, with one important exception: a hidden 80 named “fiat@” Billions of dollars in liabilities. As clients begin withdrawing assets from FTX in November 2022, SBF asked Gary Wang to calculate how much Alameda Research would need to deposit on the exchange to cover outflows. Wang, who testified under direct examination by government prosecutors on the fourth day of last weeks SBF trial, said that excluding Alameda Researchs account, the sum of FTX customer balances matched the assets in FTX hot wallets. But, unbeknownst to him, there was a problem with his calculations. He testified that he was only given the full picture when the SBF asked him whether he had included our Korean friends in the calculations. Confused, Wang checked with another former FTX executive, Nishad Singh, who told Wang that the Korean friends were actually referring to the $8 billion fiat@ vulnerability at the heart of FTXs collapse. The fiat@ account balance in FTXs internal database has been reassigned to an account named seoyuncharles88@gmail.com which has been granted special privileges so that Alameda Research does not have to pay interest on the credit line. Wang also confirmed that SBF knew that FTX’s financials were more transparent to the public and investors, while Alameda’s financials were not. (The Block)

Odaily News The Big Short Michael Lewis disclosed in his new book Going Infinite that SBF has had some bizarre plans, including: 1. SBF once offered Trump US$5 billion to dissuade him from participating in the 2024 presidential election. Because he worries that Trump will further undermine American democracy. 2. SBF spent $12 million to support Carrick Flynn’s Democratic primary campaign, but ultimately failed. SBF believed that Flynn could help him fight what he considered the three major threats to humanity: epidemics, misaligned artificial intelligence, and the collapse of democracy. 3. SBF met with the Prime Minister of the Bahamas to discuss repaying the country’s entire national debt of approximately US$10 billion. 4. SBF had planned to apply for a US$1 billion loan from Morgan Stanley to participate in Musk’s acquisition of Twitter, and planned to use FTT tokens as collateral. Lewis said Musk sought help from SBF to raise $44 billion for the deal. (The Block)

Odaily News FTX founder Sam Bankman-Fried should be barred from mentioning artificial intelligence company Anthropic’s recent fundraising efforts in response to U.S. Justice Department charges, prosecutors said on Sunday. It is understood that the US Department of Justice has been discussing issues that may be raised in SBFs trial. The two sides have already reached agreement on many issues, but there are still differences on whether the defense team can raise issues related to Anthropics fundraising. The U.S. Department of Justice said that the $500 million investment in Anthropic in 2022 came from client funds. The document from the U.S. Department of Justice stated: The indictment alleges that SBF committed fraud by misappropriating FTX customer deposits for investments and other expenses. Whether certain investments may ultimately be profitable or not is irrelevant. (CoinDesk) Previous news, artificial intelligence Smart company Anthropic has raised new funding from Google and other investors, which could boost its valuation to $30 billion, a cryptocurrency bankruptcy lawyer said, considering Sam Bankman-Frieds (SBF) stake in the company shares, which could mean FTX creditors may be paid out in full.

Odaily News Caroline Ellison, former CEO of Alameda Research and ex-girlfriend of SBF, recently provided testimony to the court. She pointed out that SBF hoped to provide special preferential treatment to Alameda within FTX. (ethnews) Previously reported that Alameda’s FTX account has unlimited margin qualifications and will not be liquidated after losses. As of the time of FTXs bankruptcy, Alamedas account balance was negative hundreds of millions of dollars.

Odaily News Conor Grogan, director of Coinbase, posted on the X platform that on-chain data shows that Alameda has minted 39.55 billion USDT, accounting for 47% of the current circulating supply of USDT. A previous report by Protoss estimated this number at approximately $36.7 billion, and Conor Grogan updated the data by adding some new wallets. According to data provided by SBF, the amount of USDT minted by Alameda exceeds its assets under management at the peak of the cryptocurrency market. But obtaining information about redemptions is difficult, in part because Tether appears to coordinate the destruction off-chain.

Odaily News According to a legal filing, lawyers for FTX founder Sam Bankman-Fried (SBF) want to ask FTX co-founder Gary Wang whether he relied on legal advice when agreeing to a series of loans related to hedge fund Alameda Research. Prosecutors have investigated Gary Wangs estimated $200 million to $300 million in loans from Alameda Research, which he used to make venture capital investments and buy himself a home in the Bahamas. The SBF argued the lawyers involvement showed he was unaware the companys loans were improper and asked Judge Lewis Kaplan for permission to question Wang on the issue. Gary Wang is expected to complete his testimony later on Tuesday, followed by Caroline Ellison, the former head of Alameda Research and SBFs ex-girlfriend. Gary Wang and Caroline Ellison have both pleaded guilty and are cooperating with investigators. (CoinDesk)

Odaily News Former Alameda Research CEO Caroline Ellison arrives in court before testifying in the SBF trial, her first public appearance since the collapse of Alameda and FTX a year ago. When Ellison arrived, FTX co-founder Gary Wang was being cross-examined by SBF lawyers. Ellison is scheduled to testify after Gary Wang. Prosecutors said Ellison was one of the few people in SBF’s inner circle who knew the truth behind its alleged transfer of billions of dollars in FTX client funds to Alameda. After FTX collapsed, she pleaded guilty and agreed to cooperate with federal prosecutors. When questioned on the witness stand by SBF lawyers on Tuesday, Gary Wang said it was not until June 2022 that he was relieved that Alameda Researchs assets exceeded its liabilities and it could repay lenders. Gary Wang has given evidence for the third consecutive day in the SBF trial. (Bloomberg) Earlier today, it was reported that SBF’s lawyers asked a judge to investigate the US$200-300 million Alameda loan in which FTX co-founder Gary Wang participated.

Odaily heard that former Alameda Research CEO Caroline Ellison testified in the SBF case. Ellison told jurors that she, SBF and others defrauded clients and investors of FTX and lenders at Alameda Research. Ellison said: “Alameda took billions of dollars from FTX customers and used them to invest themselves” and repay the lender. We ended up taking about $14 billion, some of which we were able to repay, she testified. Ellison pointed to SBF at the defense table and said: He was originally the CEO of Alameda and the owner of Alameda, and he directed me to commit these crimes. (Bloomberg)

Odaily News According to the latest testimony of FTX co-founder Gary Wang, he obtained a US$35 million loan from Alameda to purchase a property. SBF also transferred US$1 million to Wangs FTX account to pay interest on the loan. Wang said FTX attorney Dan Friedberg, known as SBFs mediator in previous FTX bankruptcy filings, signed the promissory note documenting the loan.

Odaily News In the latest trial, former Alameda CEO Caroline Ellison testified, insisting that SBF was involved in large-scale fraud at FTX and Alameda Research. Ellison said the SBF had directed her to carry out the crimes. She also stated that SBF is the final decision-maker of the FTX empire, although SBF has publicly distanced itself from Alameda. Furthermore, Ellison highlighted SBFs huge appetite for risk, frequently ignored her concerns and even asked her to revise her calculations to mitigate risk, and despite significant risks, SBF persisted with a $3 billion venture capital investment. Ellison also disclosed that SBF purchased a stake in Robinhood in May 2022, saying that this stake was paid for by Alameda, but SBF later requested that it be transferred to another entity of FTX to avoid being associated with Alameda. The trial also touched on Ellisons romantic relationship with SBF, which she said led to embarrassing situations at work. She also made reference to her private diary, which is likely to come into focus again as the trial continues. (Bloomberg)

Odaily News In SBF’s trial, its defense team plans to question Caroline Ellison about her reliance on legal advisors during her tenure as CEO of Alameda Research and the valuation of FTX’s stake in Anthropic AI. The defense team made the request after Ellison completed his first day of testimony. They also noted that Judge Lewis Kaplan had previously requested advance notice to discuss the possibility of an attorney-advised argument. The defense wants to hear about Ellisons role in shaping policies for FTX and Alamedas lawyers, such as the issue of activating automated deletion tools on the messaging app Signal. In addition, the U.S. Department of Justice has filed an objection to the issue of FTX investment valuation, arguing that it has nothing to do with whether SBF misappropriated FTX customer funds. Anthropic AI recently announced a series of fundraising efforts, raising hopes of greater compensation for FTX creditors. The defense team also said Anthropics news reflected important context in FTXs prospective value analysis, and therefore they should be entitled to raise broader questions about FTXs investment portfolio. At the end of the trial, the judge discussed with the defense the question of whether these issues should be raised at trial. There are other unresolved issues, including whether the U.S. Justice Department should be allowed to call a Ukrainian witness to testify remotely. (CoinDesk)

In the Odaily trial of SBF, a draft tweet written by SBF in September 2022 was shown, with the plan to announce the closure of Alameda Research with the text We are here. We have seen. We have studied. In the draft, SBF described Alameda Research as one of my biggest successes and said Alameda Research is one of the pillars of the ecosystem. (The Block)

Odaily News SBF lawyers have filed a request to seek court approval to use relevant evidence related to his investment in artificial intelligence startup Anthropic. In the letter filed, SBF attorneys said prosecutors sought to exclude the Anthropic investment and argued it misinterpreted the relevance of the evidence. In addition, SBF lawyers believe that the prosecutor repeatedly mentioned Alamedas venture capital during the trial and advocated allowing witness Caroline Ellison to testify to clarify the nature of the venture capital portfolio, so this information is of great significance to the case. (The Block) According to previous news, prosecutors said on Sunday that FTX founder SBF should be prohibited from mentioning the recent fundraising activities of artificial intelligence company Anthropic.