5 highlights of Sam Bankman-Fried’s first day of trial


The high-profile trial of former FTX CEO Sam “SBF” Bankman-Fried kicked off on Oct. 3 with loads of exercise each inside and out of doors of the cramped Manhattan courtroom.

Journalists, crypto influencers and different gawkers reportedly gathered in a media overflow room to take notes on the day’s occasions. Here are a number of the most colourful observations concerning the day.

Noticeably leaner, signature haircut gone

The defendant, Bankman-Fried, appeared noticeably leaner, in response to a number of studies.

Flanked by 5 protection attorneys, he was wearing a navy swimsuit that appeared larger on him in earlier appearances, and his signature unkempt curly locks had been subbed for a shorter coiffure.

Unchained Crypto’s Laura Shin famous that Bankman-Fried was noticeably “less jittery than normal.”

“I did not see him shake his leg at all,” she stated in an Oct. 3 podcast.

The solely time he spoke was to say “yes” to the choose and infrequently have a look at the jurors. Other occasions, he conferred together with his attorneys or was seen typing and scrolling on his air-gapped laptop computer.

SBF has spent the previous seven weeks or so locked up at Brooklyn’s Metropolitan Detention Center. When his attorneys unsuccessfully argued for his launch, they claimed that he was subsisting on “bread and water” and missing vegan meal choices.

Crypto influencer Tiffany Fong stated, “He kind of looks more criminal now.”

Journalists, influencers and skeptics come to “crypto prom”

The first day of the trial was described as feeling like “the first day of school,” in response to some journalists in attendance.

“I’ve never seen the courthouse like this,” remarked an unnamed member of the press, in response to The Slate.

“While waiting to access the media overflow room, I spotted practically anyone and everyone who’s had something to say about decentralized currency over the last few years,” stated The Slates’ Nitish Pahwa.

He described it as a “crypto prom” full of a hodgepodge of paid media contributors, crypto influencers, obsessives, skeptics and extra.

Cointelegraph reporter Ana Paula Pereira can be in attendance and can give day by day updates on probably the most vital developments all through the trial.

Jurors get whittled down, and a few share unhappy crypto tales

Judge Lewis B. Kaplan informed the burgeoning crowd of potential jurors: “You are to do no research. You are not to read press coverage”; nonetheless, he lightened up when it got here to questioning the gang, reported Cointelegraph.

Potential jurors had been requested if they’d prior data about FTX and Alameda, with one saying they discovered about it from The Joe Rogan Experience podcast, in response to a partial transcript from Inner City Press.

One juror stated they labored with an organization that invested in (and misplaced cash on) FTX and Alameda. Another potential juror stated:

“I invested in crypto. I lost money.”

One juror shared that he wasn’t certain if he could possibly be unbiased with crypto: “I’ve felt negatively about it since I learned about it.” He was later dismissed from the pool of potential jurors.

Another juror even requested the choose what the potential sentence could be at its worst, noting they might not impose the loss of life sentence, to which the choose answered:

“We’ll get to it in a minute or two, and my answer will have to suffice. Anyone unwilling to accept that punishment is up to the court? No one.”

At the top of the session, Judge Kaplan stated, “We now have a sufficient group of qualified jurors, 50.” He added that 18 folks might be chosen in complete, 12 of whom might be jurors with six alternates.

He added that on the subsequent day (Oct. 4), a microphone might be handed round for every juror to talk for a minute. “Then the lawyers will confer, and the final selection will be made,” he concluded.

Scaramucci on potential witness checklist

An assistant U.S. lawyer learn out an inventory of potential witnesses. This included some anticipated names, similar to former firm executives Caroline Ellison, Gary Wang, Nishad Singh, Ryne Miller and Constance Wang; members of the family Joe Bankman and Barbara Fried; and even Anthony Scaramucci.

Several establishments had been additionally listed, together with Jane Street Capital, Sequoia Capital, BlockFi, Genesis, the Ontario Teachers’ Pension Plan, Binance, Nexo, Guarding Against Pandemics (the nonprofit of SBF’s brother) and Voyager Digital.

Six-week trial anticipated

Judge Kaplan stated that the trial was anticipated to take about six weeks, however he additionally famous that it could possibly be over in a a lot shorter time.

Related: What has Sam Bankman-Fried been as much as in jail?

However, by the top of the day, he had not succeeded in finalizing the jury. Kaplan predicted that this could be accomplished by the morning of Oct. 4, after which either side are anticipated to present opening arguments totaling round 90 minutes.

Magazine: Can you belief crypto exchanges after the collapse of FTX?

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