BREAKING: Sam Bankman-Fried TESTIFIES• October 27, 2023 11:58 am • Comments
Often, one of the best things a defendant can do to help themselves is simply to stay silent.
After all, the right to remain silent and the 5th Amendment rights guaranteed to every American defendant are enshrined within the legal system—they are cornerstones of American justice.
Yet, time and time again, many defendants fail to make use of these shields provided to them by law and instead opt to testify in court; in almost every single case where this is tried, it ends up hurting the defendant.
Submitting to testimony involves hours of interviews with prosecutors and potentially weeks of cross-examination on the stand. The rewards from testifying are slim to none in most cases, yet the risks are always massive.
Sam Bankman-Fried, not being one who fears giant risks, chose to take the stand and testify in his ongoing criminal trial against the advice of many legal experts. Bloomberg provided live updates on the former CEO’s testimony:
SBF resumes court testimony in day 2 on witness stand.
Follow our live blog for the latest news and analysis: https://t.co/14mwovRIYr
— Bloomberg Crypto (@crypto) October 27, 2023
Daily Coin summed up the tenor of the testimony:
In FTX’s courtroom showdown, Sam Bankman-Fried’s testimony had a rocky start, but things got even murkier as the day wore on.
The judge, Lewis Kaplan, noted the witness’s unusual way of answering questions, and what was supposed to be a straightforward day in court turned into a chaotic “deposition,” as described by the defense lawyer, Mark Cohen.
Crypto investors, outlets, and influencers shared more details and provided their opinions on Bankman-Fried’s courtroom testimony. Virtually all agreed that his testimony only hurt his defense.
— Crypto Macro (@cryptomacro14) October 27, 2023
— Del Crxpto (@DelCrxpto) October 26, 2023
some of you are going to start feeling sorry for SBF as his disastrous testimony just torpedoes him further
my advice is DON'T
he committed heinous crimes, lied about them, caused immense harm, and should/must bear the weight of the consequences which stem from his own actions
— DCinvestor (@iamDCinvestor) October 27, 2023
Coin Telegraph provided this quote from Bankman-Fried in response to questioning from his own attorney:
“FTX declared bankruptcy,” said SBF in response to a question from his lawyer Mark Cohen. “A lot of people got hurt.”
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