crypto-news — Sam Bankman-Fried is ready to seem in a federal courtroom on Wednesday as a decide considers whether or not to bar the founding father of the now-bankrupt cryptocurrency trade FTX from making public statements forward of his upcoming fraud trial.
Bankman-Fried is at present set to go on trial in early October over fraud expenses associated to the collapse of FTX. He has pleaded not responsible to claims that he stole billions from FTX prospects to plug losses at his hedge fund Alameda Analysis.
Immediately’s listening to, which is ready to start at 14:00 ET (18:00 GMT), comes because the U.S. Legal professional’s workplace in Manhattan is requesting {that a} gag order be positioned on Bankman-Fried and his allies earlier than the beginning of that trial.
Prosecutors requested the ban final week after Bankman-Fried shared private Google paperwork from Caroline Ellison, the previous head of his crypto hedge fund Alameda Analysis and his ex-romantic associate, with reporters from The New York Instances. Writing to U.S. District Decide Lewis Kaplan, prosecutors accused Bankman-Fried of witness tampering, noting that Ellison is because of be key witness within the trial.
Bankman-Fried rejected these claims however agreed to simply accept a gag order. The protection additionally requested that the ban apply to prosecutors and attainable witnesses like present FTX chief govt John Ray.
In the meantime, Kaplan is eager to reassess “the adequacy and continuation” of Bankman-Fried’s present bail circumstances.
Following his extradition late final 12 months from the Bahamas, the place FTX was based mostly and the place he was arrested, Bankman-Fried has been principally confined to his mother and father’ dwelling in Palo Alto, California.
Prosecutors have referred to as out his conduct whereas on bail, saying in January that he tried to contact Ray and FTX’s in-house lawyer. Bankman-Fried’s legal professionals have mentioned he was making an attempt to assist his case, not intervene.
Kaplan positioned limits on Bankman-Fried’s communications at a listening to in February however selected to not jail him.
