Sam Bankman-Fried Requests Clarification And Reconsideration From Court

Varinder Singh
October 12, 2023
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Sam Bankman-Fried’s defense team sent a letter to the federal judge requesting clarification and reconsideration on some portions of the court’s rulings. The move comes after testimony from former FTX CTO Gary Wang and former Alameda CEO Caroline Ellison makes the case challenging for Sam Bankman-Fried and his defense team.

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Sam Bankman-Fried’s Lawyers Seek Reconsideration On Rulings

Sam Bankman-Fried attorneys request clarification and reconsideration regarding certain portions of the court’s ruling on the parties’ motions in limine. Judge Lewis A. Kaplan has made critical rulings during the trial such as precluding the defense from mentioning Anthropic, cross-examination of Wang and Ellison, and FTX’s regulation in the US. Moreover, these decisions could significantly shape the direction and outcomes of the proceedings.

Now, the defense needs clarification and reconsideration some parts of earlier rulings such as the ruling to preclude Sam Bankman-Fried from arguing that “he is not guilty because FTX was not regulated in the U.S. and he followed rules for FTX US.

“The Court adheres to its original ruling. Moreover, and with respect, the defendant has misconstrued the Court’s rulings. Properly construed, there is no inconsistency.”

SBF attorneys need reconsideration on rulings to preclude opposition to the government’s memorandum on the motion in limine, evidence regarding charitable or philanthropic efforts, and the defendant’s intent to provide evidence on fraud allegations and misappropriated funds.

Also Read: The Bahamas Maintains Optimistic Outlook on Crypto Amid FTX Debacle

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Caroline Ellison Makes Crucial Allegations

Caroline Ellison’s testimony highlights potential Bitcoin price tampering and financial concerns in the FTX trial. Sam Bankman-Fried told the insider team to maintain Bitcoin below $20,000. She also said Alameda Research borrowed $13 billion from FTX clients under Sam Bankman-Fried and testifies about alleged bribes to unfreeze Chinese crypto assets.

SBF also tried to bring Binance under increased regulatory scrutiny. The narrative around this trial suggests that FTX intentionally tried to direct regulators toward Binance during its turbulent period.

Also Read: Fed Officials Set For Higher Rate Hikes After IMF Report, Bitcoin Risks Falling To $25K?

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.