Sign Up on MEXCSBF Trial Day 6: What to Expect from Ellison’s Testimony Today?
As the trial of Sam Bankman-Fried (SBF), the co-founder and former CEO of defunct FTX Derivatives Exchange enters day 6 and the second week, star witness Caroline Ellison is expected to take the stand for the second time.
SBF Trial: New Revelations Imminent?
A number of Sam Bankman-Fried’s closest allies include co-founder Gary Wang and Paradigm Managing Partner Matt Huang.
While Huang’s testimony was centered on the marked-down investment the Venture Capital firm made into FTX, Wang’s testimony has been more damning overall. According to him, the executives of both Alameda Research and FTX lied about the large withdrawals that were made by the former which ultimately led to the empire’s collapse.
In complement to these assertions, Caroline Ellison revealed at the trial that SBF directed her and other staffers to commit crimes when the business was still operational. The revelations have largely presented the 31-year-old in a bad light and with the request to cross-examine Gary and Ellison denied by the court, wriggling out of these claims remains a tough bid.
With Ellison’s trial set to resume, it remains speculative what new revelation will be uncovered to bolster the charges brought on by the Department of Justice (DOJ).
Potential Witness Line Ups
As the trial continues, there are other potential witnesses that are billed to take the stand after Caroline Ellison.
Some of these witnesses, according to a Wired update include former Alameda employee Christian Drappi and BlockFi CEO Zac Prince. Zac Prince’s testimony is another potential vital one considering the very close association between FTX and the now defunct crypto lending platform.
With the DOJ’s argument getting bolstered as planned, many crypto enthusiasts following the case are eager to see the defense strategy of SBF’s lawyers. This anticipation is even more so considering SBF’s incarceration and its impact in the pre-trial preparations.
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