Defense attorney Mark Cohen emphasizes that Bankman-Fried is not a monster, but rather a person who made mistakes while genuinely acting in good faith.The SBF trial is reaching its conclusion as both sides delivered their closing arguments this Wednesday.On the other hand, the prosecution attorney, Nicolas Roos, contends that Bankman-Fried should be found guilty of fraud and conspiracy.SBF is currently charged with seven counts of fraud and conspiracy, potentially leading to a maximum prison sentence of 115 years if convicted by the jury.

In a surprising turn of events, Bankman-Fried's defense attorney, Mark Cohen, has portrayed his client in a much different light than the government did during the trial. Cohen argued that Bankman-Fried should not be labeled a "monster" as the prosecution suggested but rather seen as a "mistake-maker" who acted in good faith.
Cohen's defense centered on the idea that Bankman-Fried's actions, while not flawless, were not driven by fraudulent intent. According to Cohen, SBF's only missteps were honest errors, not criminal acts.
During the trial, Cohen humanized the FTX founder by sharing childhood photos of him with former President Bill Clinton and another of Bankman-Fried sleeping on a private jet. He even critiqued the government's trivial attacks on his client's appearance, arguing that being "the worst-dressed CEO in the world" should not constitute a crime.
In his defense, Cohen also highlighted Bankman-Fried's openness and approachability. He emphasized that SBF was always accessible and willing to engage with the media, bloggers, and journalists.
Furthermore, Cohen raised questions about the credibility of the government's witnesses, including Bankman-Fried's former girlfriend, Carloline Ellison, Nishad Singh, and Gary Wang. He asked why these individuals continued to associate with SBF if they believed he was truly "terrible."
Cohen countered the prosecution's argument that Bankman-Fried's card shuffling was a sign of gambling, asserting that it was merely a coping mechanism for fidgetiness. He reiterated that "good faith is a complete defense" and that mistakes should not be treated as crimes.
The defense also underlined the challenges of the cryptocurrency industry and the volatility of its markets.
In contrast, the prosecution's closing arguments painted a different picture. Assistant United States Attorney Nicolas Roos aimed to convince the jury that Bankman-Fried was indeed guilty of fraud and conspiracy. According to Roos, SBF's actions amounted to "stealing" and presented evidence that demonstrated deceit, fund mishandling, and lies.
Roos alleged that Bankman-Fried had set up two methods to embezzle funds from FTX, one through an unlimited cash account at Alameda and another through political contributions made with customer funds. He relied on the testimonies of cooperators who admitted their involvement in the scheme and contended that believing Ellison, Singh, or Wang would lead to a guilty verdict for SBF.
As the trial concludes, a jury of 12 will ultimately decide Bankman-Fried's fate. If convicted, the 31-year-old entrepreneur faces seven counts of fraud and conspiracy, potentially resulting in a staggering 115 years in prison.
The trial has garnered significant attention within the crypto community due to FTX/Alameda's substantial presence before their downfall, with over $25 billion in valuation and $2 billion in assets under management. The prosecution has presented substantial evidence, including testimony from law enforcement officers involved in the investigation, making it a challenging task for SBF's defense to sway the jury in his favor.

#SBF #FTX #SBFFTX #sambankman #CryptoNews

Sam Bankman-Fried's bail denied due to allegations of leaking confidential diaries of a key witness, Caroline Ellison.Bankman-Fried set to stay in custody until late March 2024 for sentencing.Despite Bankman-Fried's challenges in November, $FTT has shown remarkable performance this month.If $FTT surpasses $4.84, potential price targets are set at $5.55 and $6.7.

The legal saga of Sam Bankman-Fried, the founder and former CEO of FTX, has encountered another setback. Following a recent ruling by a US appeal court, Bankman-Fried finds himself confined to jail due to a critical misstep involving the diary of his former girlfriend and co-conspirator, Caroline Ellison, earlier this year.
The court deemed Bankman-Fried a potential obstruction to justice, denying all motions for release due to alleged "witness tampering" that poses a risk to the judicial process.
Witness Tampering Allegations SBF, aged 31, faced arrest after the high-profile FTX upheaval in November 2022. Initially charged with fraud and money laundering, he was granted pretrial release on a $10 million bond. However, his bail was revoked in July following accusations of leaking the confidential diaries of a key witness, Caroline Ellison, to The New York Times.
The Prosecution's Claim According to prosecutors, Bankman-Fried leaked the diaries to undermine Ellison's testimony, attempting to weaken the prosecution's case. However, Bankman-Fried staunchly denies these allegations, asserting that he was exercising his right to free speech. He contends that the diaries were already in the public domain before he disclosed them and claims ignorance of their confidential nature.
Rejection of Release Motion Despite seeking release while challenging a recent guilty verdict handed down on November 3, Bankman-Fried's plea for bail reconsideration was turned down by the U.S. Court of Appeals for the Second Circuit. The appellate court upheld the decision of the New York District Court, citing Bankman-Fried's previous attempts to tamper with witnesses as indicative of his threat to community safety and judicial integrity.
Legal Implications and FTT's Response Facing a possible cumulative sentence of over a century in prison, Bankman-Fried awaits sentencing until late March 2024. Meanwhile, FTX Token (FTT) has seen a staggering surge, marking a nearly 300% increase in November alone. As of now, FTT faces resistance around $4.7 - $4.84, hovering above its 20-day EMA and poised to surpass $5.4 from November 10.
The cryptocurrency's bullish momentum, indicated by its RSI, suggests potential breakthroughs to $5.55 and $6.7 if it manages to breach the $4.84 mark, as per the Fibonacci retracement tool.
Disclaimer: While striving for accuracy and timeliness, Voice of Crypto disclaims liability for any factual omissions or inaccuracies. As cryptocurrencies are inherently volatile financial assets, it is recommended to conduct thorough research and make informed financial decisions.

#sambankman #SBF #FTX #SEC

- Reuters reports: Sam Bankman-Fried (SBF) won't undergo a second trial for FTX fraud charges.
- Prosecutors withdraw retrial request due to absence of new evidence and a desire for a swift resolution.
- Bankman-Fried convicted in November 2023 on seven counts, encompassing securities fraud, money laundering, and wire fraud.
- His sentencing, potentially facing over 100 years in prison, looms ahead.

Sam Bankman-Fried’s legal saga continues to captivate headlines, a year following his arrest. Recent reports reveal that US prosecutors have opted against a retrial, citing a lack of new evidence and a desire to swiftly conclude the case in the public interest.
The journey through the courts has been arduous. Following a jury trial in November 2023, Bankman-Fried was convicted on seven counts of fraud, encompassing a range of allegations from securities fraud to money laundering conspiracy. Each charge carries a potential sentence of up to 20 years in prison alongside penalties and restitution.
Despite his team's intent to appeal, arguing biased witnesses and flawed evidence, their efforts met a setback when the prosecuting counsel successfully halted further proceedings in December 2023. Prosecutors argued that all pertinent evidence had been presented and reiterated the need for justice and restitution for FTX's victims.
Bankman-Fried’s sentencing, scheduled for March 28, 2024, looms ahead. His request for an adjournment was denied, and Judge Lewis Kaplan, disapproving of Bankman-Fried's lack of remorse, emphasized considering the gravity of the offenses, impact on victims, and the need for deterrence when determining the sentence.
Facing a potential sentence exceeding a century, along with substantial fines and restitution, Bankman-Fried's future remains uncertain pending his hearing.
It's important to note that the Voice of Crypto aims for accuracy but disclaims responsibility for any missing or incorrect information. Given the volatility of cryptocurrencies, it's prudent to conduct thorough research and make informed financial decisions.
#SBF #FTX #sambankman #FTX2.0 #FTXRevival