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DOJ readies witnesses in Bankman-Fried trial, highlights FTX asset administration

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The DOJ intends to highlight the experiences of retail and institutional customers who entrusted colossal sources to FTX.

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The Department of Justice (DOJ) has confirmed its blueprint to summon primitive FTX customers, patrons and workers as witnesses in the upcoming trial interesting Sam Bankman-Fried, the primitive FTX CEO.

The DOJ submitted a letter motion in limine on Sept. 30 describing the witnesses it intends to name referring to FTX’s remedy of customer sources.

The testimonies intend to manufacture perspectives on the interactions between the accused and the witnesses. It additionally targets to find the witnesses’ working out of Bankman-Fried’s remarks and habits, particularly referring to FTX’s asset administration. The DOJ intends to highlight the experiences of retail and institutional customers who entrusted colossal sources to FTX, believing that the platform would safeguard them securely.

Courtroom submitting in the US District Courtroom for the Southern District of New York. Source: CourtListenerFurthermore, a inform has emerged referring to one of many DOJ’s witnesses, “FTX Buyer-1,” who resides in Ukraine. Given the continued wrestle in Ukraine, traveling to the U.S. to manufacture testimony is associated with difficulties. The DOJ has suggested the utilization of video conferencing as a viable alternative. On the opposite hand, Bankman-Fried’s defense has now not but licensed this proposal.

On the other hand, the upright team representing Bankman-Fried, led by attorney Payment Cohen, has voiced considerations referring to the jury questions build forth by the DOJ. Per Bankman-Fried’s defense, these interrogations insinuate guilt on Bankman-Fried’s fragment, potentially undermining the concept of “innocent until confirmed responsible.“

Connected: Sam Bankman-Fried’s attorney challenges US gov’t proposed jury questions

Additionally, the defense contends that these inquiries would possibly maybe additionally now not effectively mutter the jurors’ inherent biases, especially connected to their encounters with cryptocurrencies. Furthermore, pronounce questions would possibly maybe additionally inadvertently files the jury’s perspective in preference to eliciting agreeable insights, maybe compromising the trial’s impartiality.

With the jury alternative scheduled to initiate on Oct. 3, carefully adopted by the trial, the spotlight is on this high-stakes upright war of phrases.

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