The high-stakes trial of Sam Bankman-Fried is set to begin on October 3, and the FTX founder and former CEO will have to answer for his role in the cryptocurrency exchange’s downfall, which led to billions in losses. Both the prosecution and defense are currently preparing for what is set to be a significant milestone for the crypto industry. Kayvan Sadeghi, partner at Jenner & Block and Sam Enzer, partner at Cahill Gordon & Reindel, discuss the differences between a civil and criminal trial, what the jury selection process might look like, and what arguments the prosecution and defense might use to support their cases.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
Show highlights:
- The difference between a civil and criminal trial and why it’s difficult for the defense to prepare while Sam Bankman-Fried is in jail
- Whether SBF was offered a plea deal and if so, why he didn’t take it
- What the process of vetting jurors looks like and what both sides are looking for
- What a pre-opening jury charge is and why Judge Lewis A. Kaplan might choose to use it
- The importance of intent when it comes to SBF’s charges
- The pros and cons of the defense using the argument that the FTX founder was receiving poor legal advice
- What charges SBF is facing and whether the defense or prosecution has the upper hand
- How the opening statements of both the prosecution and the defense might play out
- Whether SBF will be put on the stand and why that could be a “dangerous” move, according to Sam
- How the defense could respond to testimony from key witnesses like Caroline Ellison or Gary Wang
- How Judge Kaplan being a “tough sentencer” could impact SBF’s jail sentence, according to Sam
Thank you to our sponsors!
Guests:
- Kayvan Sadeghi, partner and co-chair of Fintech & Crypto Assets at Jenner & Block
- Previous appearance on Unchained: Why the SEC vs. Ripple Order Is Now About 2 Things: Coinbase and Congress
- Samson Enzer, partner at Cahill Gordon & Reindel.
Links
Previous coverage from Unchained on Sam Bankman-Fried and FTX:
- Here’s How Sam Bankman-Fried’s High-Stakes Trial Could Play Out
- Why FTX Might Try to Claw Back Funds From Retail Customers
- The Chopping Block: Was FTX a Scam From the Very Beginning?
- How Much Prison Time Is FTX’s Sam Bankman-Fried Facing?
- Why the Legal Process for FTX and Sam Bankman-Fried Could Take Years
- The Chopping Block: SBF Wants to Win in the Court of Public Opinion. Will He?
- Jesse Powell and Kevin Zhou on How FTX and Alameda Lost $10 Billion
- Did the Bahamian Government Direct SBF and Gary Wang to Hack FTX?
- The Chopping Block: Why Lenders Didn’t Liquidate Alameda When It Was Underwater
- Erik Voorhees and Cobie on Why FTX Loaned Out Customers’ Assets
- The Chopping Block: FTX: The Biggest Collapse in the History of Crypto?
- Sam Bankman-Fried on How to Prevent the Next Terra and 3AC
Details of the trial:
SBF’s defense team:
- Unchained: Sam-Bankman-Fried Files New Request for Temporary Release Before Trial
- CoinDesk:
Key witnesses:
- Unchained: SBF’s Expert Witnesses Barred From Testifying at Trial
- Reuters: Who is Caroline Ellison, a key witness set to testify against Sam Bankman-Fried?
- NYT: Prosecutors Detail Evidence Against Sam Bankman-Fried – The New York Times
- CoinDesk:
- Business Insider: Sam Bankman-Fried is being sent to jail after a judge revoked his bail over alleged witness tampering
Jury selection:
- CoinDesk: Sam Bankman-Fried Can Ask DOJ Witnesses About Drug Use
- Cointelegraph: Sam Bankman-Fried’s political donations can be surfaced in trial, rules judge
