The Latest Update On Sam Bankman-Fried’s Trial

October 31, 2023 6:32 pm Comments

Sam Bankman-Fried’s trial has entered its final phase—the endgame is nearly here.

According to sources, the former CEO spent much of his time on the stand obfuscating and attempting to dodge the prosecution’s questions.

Testimony in the case has now concluded and both the prosecution and the defense have rested.

What comes next are the closing arguments from both sides and the verdict from the jury.

Journalist Jacquelyn Melinek reports: “SBF trial case has rested. Closing arguments to come tomorrow. Then jury deliberates to determine whether he’s guilty or not on the 7 charges related to fraud and money laundering.”

Puck News reporter Teddy Schleifer provided this update: “Prosecutors originally said there would be multiple rebuttal witnesses. But that never happened. I was surprised as soon as SBF stepped off and prosecutors said they would be not calling anyone else!”

Coin Telegraph explained:

The case will move to closing arguments from both sides at 9:30 am ET (1:30 pm UTC) on Nov. 1, with all evidence discovery concluded. Attorneys from both sides declined to call any further witnesses.

Writer and financial journalist Zack Guzmán had this to say: “Closing arguments in the SBF trial coming as soon as Monday does not bode well for SBF.”

The New York Post summarized SBF’s testimony:

The slippery 31-year-old fallen cryptocurrency king said over and over on the witness stand at his Manhattan federal court trial that he could not remember or was “not sure” about what he said of his business dealings in public — ​including his constant pledges to keep FTX users’ funds “safe.”

He also repeatedly denied remembering what he said in private, where he called some members of the crypto community “dumb motherf–kers” and confessed to a reporter that his public push for government oversight was “just PR.”

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