The trial of cryptocurrency exchange FTX founder Sam Bankman-Fried took an interesting turn when U.S. District Judge Lewis Kaplan expressed concerns about the defendant’s evasive answers during cross-examination. This development in the courtroom added new complexity to the ongoing fraud case.
Evasive answers in the case of cryptocurrency exchange FTX
During the trial, Bankman-Fried’s answers to Assistant U.S. Attorney Danielle Sassoon’s questions were often evasive. He paused frequently before answering. In addition, sometimes questions directed to the founder of the cryptocurrency exchange FTX remained unanswered. Thus, the questions were rephrased. This behavior caught Judge Kaplan’s attention, and he expressed doubts about the defendant’s answers.
Judge Kaplan likened the situation to someone using money from a bank to buy a house but not disclosing the source of the money to their real estate attorney. Cryptocurrency exchange FTX founder Bankman-Fried’s unique answers to questions contributed to the judge’s growing concerns.
Relevance of defense arguments
His lawyers say Bankman-Fried acted in good faith during his tenure at cryptocurrency exchange FTX. He also maintains that he followed legal advice. On the other hand, Judge Kaplan emphasized that these discussions may have little to do with the charges against him. The focus of the prosecution remains on the alleged misuse of FTX customer deposits.
Bankman-Fried’s decision to testify caused the hearing to be extended. As the day ended, Judge Kaplan stated that it was necessary to evaluate whether the defendant’s statements could be shared with the jury.
The judge’s questions forced
During his testimony, Bankman-Fried suggested that Alameda, a sister firm of cryptocurrency exchange FTX, believed it could borrow money from the exchange’s customer funds under conditions similar to FTX’s terms of service. However, when asked by Judge Kaplan if she had read the entire terms of service document, Bankman-Fried stated that she had only read certain sections thoroughly. He also admitted that he was reviewing the others.
Bankman-Fried’s defense team says prosecutors did not present enough evidence to prove the charges. They also request the presiding judge to issue a verdict of acquittal. The government’s last witness, FBI agent Mark Troiano, spoke in the cryptocurrency FTX case. Accordingly, he testified about the signal messages exchanged between Bankman-Fried and his inner circle, some of which had an automatic deletion function. Prosecutors allege this function was used to cover up discussions of alleged crimes.
Cryptocurrency exchange FTX case will continue
As the hearing continues, the defense and prosecution present their arguments regarding the legal struggle. As Kriptokoin.com, we will continue to hear interesting statements as the hearings progress.
Attention continues to be on Sam Bankman-Fried and the alleged misuse of client funds. Additionally, the judge’s concerns about the defendant’s responses add an intriguing dimension to the legal process. The outcome of this case will have significant impacts on the cryptocurrency industry and its approach to compliance.
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