Sam Bankman-Fried’s Trial May Be Over, but The Bahamas Is Living Its Own Trial
Bankman-Fried may have been convicted, but The Bahamas appears to be dealing with the stigma of rolling out a red carpet for FTX.
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SBF Trial
Bankman-Fried may have been convicted, but The Bahamas appears to be dealing with the stigma of rolling out a red carpet for FTX.
We weren’t really sure if it was the last day or not. The jury determining Sam Bankman-Fried’s fate had begun deliberating the charges just a few hours before, after Judge Lewis Kaplan had spent much of the morning and some time after lunch reading out a 60-page charging document. Surely a case of this complexity – seven different charges, billions of dollars allegedly stolen, questions about whether witnesses were telling the truth – would take a while.
(MIT Bitcoin Club, Mercatus Center, Cointelegraph/Wikimedia Commons, modified by CoinDesk)
Twelve jurors spent less than five hours deciding the facts. They asked for portions of transcripts from Paradigm’s Matt Huang and Third Point’s Robert Boroujerdi testimony, as well as highlighters and Post-it Notes, and when they didn’t immediately receive the version of the indictment, they requested that too. And yet, they quickly decided that Bankman-Fried was guilty on all seven counts.
Damian Williams, the U.S. attorney for the powerful Southern District of New York, set an ominous warning following the conviction of former crypto kingpin Bankman-Fried.
A jury found Sam Bankman-Fried guilty on all charges in his criminal fraud trial tied to FTX’s operation and collapse.
A verdict in the SBF trial could come before the end of Thursday – on the first anniversary of the CoinDesk scoop that caused his empire to crumble.
Is Sam Bankman-Fried going to prison? Five weeks into his criminal trial, 12 randomly selected New Yorkers are preparing to discuss among themselves whether they believe he violated federal law or not.
The value of FTX’s stake in Solana’s SOL token, for instance, has just added $1 billion in two weeks.