Fun

News Feed - 2023-08-19 05:08:02

Amaka Nwaokocha35 minutes agoSam Bankman-Fried requests weekday freedom for legal defense workLawyers for SBF stated that their client faced difficulties thoroughly reviewing the extensive document accumulation related to the case while confined to the detention center.198 Total views8 Total sharesListen to article 0:00NewsJoin us on social networksSeven days following the Department of Justice"s bail revocation for disgraced FTX founder Sam Bankman-Fried, he is now seeking permission to spend five weekdays outside to collaborate with his legal team on his defense case.


According to a letter sent to US District Judge Lewis Kaplan on Friday, as reported by Bloomberg, legal representatives of SBF stated that their client faced difficulties in thoroughly reviewing the extensive document accumulation related to the case while confined to the Metropolitan Detention Center in Brooklyn.


In correspondence, Christian Everdell, the attorney for SBF, conveyed the following statement:“Just last week the government produced three-quarters of a million pages of Slack communications, which were supposed to be produced months ago, that Mr. Bankman-Fried will have no hope of reviewing under this schedule”.


According to Everdell, facilitating Bankman-Fried"s access to his legal team and allowing him to use an internet-enabled laptop within the courthouse premises would accelerate the proceedings. The lawyer emphasized the significance of this arrangement, particularly given that his fraud trial is scheduled to start in October.


Maintaining his innocence, SBF is confronted with allegations of masterminding an elaborate fraud scheme, which involved unauthorized access to billions of dollars from FTX customer funds for personal use.


Related:FTX seeks $175M settlement with Genesis entities to resolve dispute


Prosecutors reportedly argued that unless Bankman-Fried promptly provides information about the advice he received and its origin, he should be precluded from introducing this defense during the trial, as per their contention.


The prosecutors reportedly mentioned their ability to provide Bankman-Fried with information on hard drives. These drives could be used on computers at the Metropolitan Detention Center (MDC), where individuals await their trials.


However, due to limitations, not all the information can be stored on a laptop. A plan to move him for laptop access was denied by prison authorities. The Judge"s decision on his requests is awaited ahead of the trial.


Magazine:Deposit risk: What do crypto exchanges really do with your money?# Blockchain# Cryptocurrencies# Law# Business# Cryptocurrency Exchange# FTXAdd reactionAdd reactionRead moreWhat are NFT royalties, and how do they work?What is Chapter 11 bankruptcy? Understand the basicsDOJ wants SBF’s bail revoked over witness tampering, diary leak allegations

News Feed

Treasury Says Crypto Reduces Efficacy of US Sanctions, Seeks More Funding
Treasury Says Crypto Reduces Efficacy of US Sanctions, Seeks More Funding The U.S. Department of the Treasury says that the growing use of crypto assets challenges the efficacy of
Survey: 98% of CEOs Preparing for US Recession — Confidence at Lowest Level Since Great Recession
Survey: 98% of CEOs Preparing for US Recession — Confidence at Lowest Level Since Great Recession The Conference Board has found that 98% of chief executives surveyed are prepari
Bitcoin, Monero and Zcash Will Still Be Used in the Year 2414 According to Netflix’s Altered Carbon
Bitcoin, Monero and Zcash Will Still Be Used in the Year 2414 According to Netflix"s Altered Carbon Several cryptocurrencies such as bitcoin, monero and zcash were featured on th
Starknet’s STRK token drops as Nethermind and airdrop hunters dump millions
Jesse Coghlan2 hours agoStarknet’s STRK token drops as Nethermind and airdrop hunters dump millionsSTRK’s token has fallen by over 50% since its launch on Feb. 20 as airdrop hunters and large token recipients sell mi
Japan Leverages 80 Tons of Gold to Help Fund Part of Its Stimulus Package
Japan Leverages 80 Tons of Gold to Help Fund Part of Its Stimulus Package Japan’s finance ministry has reportedly leveraged 80 tons of gold to help fund pa
Analysts Warn of Regulatory Risks if Russia Is Able to Use Crypto to Evade Sanctions
Analysts Warn of Regulatory Risks if Russia Is Able to Use Crypto to Evade Sanctions Russia could turn to cryptocurrency if it is banned from the SWIFT payments system. Analysts ha
Binance Developing Crypto Exchange in Indonesia
Binance Developing Crypto Exchange in Indonesia Binance has formed a joint venture with a consortium led by Telkom Indonesia’s $830-million venture capital arm. Binance aims
Indian Central Bank Informs Government of Major Crypto Concerns — Digital Rupee ‘Receiving Our Full Attention’
Indian Central Bank Informs Government of Major Crypto Concerns — Digital Rupee "Receiving Our Full Attention" India’s central bank governor Shaktikanta
China’s Xinhua News Agency to Issue NFTs Despite Crackdown on Crypto
China’s Xinhua News Agency to Issue NFTs Despite Crackdown on Crypto Xinhua, the official news agency of China, is going to issue an NFT collection with photographs depicting his
BA-Backed Firm Raises $5 Million to Put Airline Security on a Blockchain
Blockchain firm Zamna has raised $5 million in a seed funding round led by VC firms LocalGlobe and Oxford Capital for the continued development of its airport security system. Forme
Japanese exchange BitFlyer to acquire FTX Japan
Helen Partz1 hour agoJapanese exchange BitFlyer to acquire FTX JapanFTX Japan, a Japanese subsidiary of the collapsed FTX exchange, is preparing to return with a new owner after repaying its customers in 2023.503 Total v
FTX’s Gary Wang and Alameda’s Caroline Ellison Plead Guilty to Fraud, Duo Is ‘Cooperating’ With Feds
FTX"s Gary Wang and Alameda"s Caroline Ellison Plead Guilty to Fraud, Duo Is "Cooperating" With Feds On Dec. 21, 2022, U.S. attorney Damian Williams announced that the Southern Dis