Sam Bankman-Fried, the founder of the now-defunct cryptocurrency
exchange FTX, has made a renewed request for temporary release from jail as he
awaits trial, according to a letter submitted by his legal team to the
overseeing judge.
The journey towards this request began in August when
Bankman-Fried’s release on bond was revoked. He was incarcerated after a judge
ruled that he had likely attempted to tamper with witnesses. On September 12,
his request to overturn this decision was denied, and an appeal to reverse the
ruling met with rejection on September 21.
In their latest plea, Bankman-Fried’s lawyers noted that the
court had not definitively closed the door to further applications from the
defense. They argued that the practical challenges of preparing for the trial,
including receiving a lengthy list of potential witnesses, thousands of pages
of materials, and over 1,300 exhibits from the government, made a strong case
for temporary release.
The legal team expressed appreciation for the government’s
cooperation in providing case materials and counsel. However, they emphasized
the difficulties in preparing adequately without knowledge of the government’s
witness order and schedule.
Supervised
Stay: Bankman-Fried to Remain in New York City
Bankman-Fried’s request seeks release on October 2, the day
before his trial, under these key conditions: Staying with attorneys or a
security guard in New York City when not in court, agreement to a gag order,
limiting communication to attorneys, parents, and brother during the trial, supervision
by a private security guard from 10 p.m. onwards to prevent access to
electronic devices, internet, or television, addressing prior disputes over
laptop access.
The legal team concluded by expressing their willingness to
accept any additional conditions that the court deemed necessary.
As the trial date looms, this renewed request sheds light on
the ongoing legal battle surrounding the prominent figure in the cryptocurrency
world, Bankman-Fried.
Million-Strong
FTX User Base Suffers Amid Insolvency
The once-mighty cryptocurrency
empire of Bankman-Fried, known as the “King of Crypto,” has
crumbled. It leaves a trail of devastated investors and a high-profile legal
battle in its wake.
FTX,
formerly the world’s second-largest cryptocurrency exchange, filed for
bankruptcy in November of the previous year. It marked a colossal fall from
grace for the platform that had attracted nine million users from 100 countries.
