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Julia Smith
Author
Julia Smith
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Oral arguments in the appeal of disgraced FTX founder Sam Bankman-Fried (SBF) are set to take place in Manhattan on Tuesday as the former “king of crypto” pushes for a new trial.
SBF Pushes For New Trial
Lawyers for Bankman-Fried are expected to present their case for a new trial for the former FTX CEO in New York City on November 4.
In a September 2024 court document, Bankman-Fried’s attorneys argued that the ex-crypto executive was “presumed guilty” before his conviction.
“Throughout the proceedings, the district court made little pretense of objectivity or even-handedness,” the filing reads.
“In addition to eviscerating Bankman-Fried’s defenses, the judge repeatedly made biting comments undermining the defense and defense counsel, even deriding the defendant’s own testimony during the preview hearing and in front of the jury,” they added.
FTX Founder And Crypto Executives Face The Music
The hearing comes nearly two years to the day after Bankman-Fried was convicted on criminal fraud charges tied to his time as CEO of the doomed crypto exchange.
Several former associates of Bankman-Fried testified against him in the whirlwind month-long fraud trial, including FTX chief technical officer, Gary Wang, the crypto platform’s former head of engineering, Nishad Singh, and one-time Alameda Research CEO, Caroline Ellison.
Bankman-Fried was sentenced to 25 years in federal prison in 2024 for orchestrating the massive digital asset scheme that saw FTX investors drained of $8 billion.
Last month, a post on Bankman-Fried’s official GETTR account alleged that “Biden’s anti-crypto SEC/DOJ went after me” and arrested him in 2022 as a means of preventing his testimony on Capitol Hill the next day.
“They had me arrested weeks before the crypto bill I was working on was set for a vote—and the night before I was set to testify before Congress,” a post on Bankman-Fried’s official Gettr account says.
However, it is still unclear if Bankman-Fried’s arguments will hold up in court.
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