Disgraced FTX Founder SBF Seeks New Trial, Claims Decide Kaplan’s Bias Tainted His Case – Bitcoinik
Sam Bankman-Fried’s (SBF) legal professionals have filed for a retrial, claiming that the court docket choose was biased within the case.
Sam Bankman-Fried (SBF) is the co-founder and former CEO of the now-bankrupt crypto change FTX. In November 2022, FTX collapsed following a report by CoinDesk, which revealed that FTX was not holding prospects’ funds on its stability sheet. Subsequent investigations and trial outcomes confirmed that FTX management misused prospects’ funds for private acquire with out their consent. For these unethical actions, SBF confronted almost two dozen fees, and within the remaining judgement, the court docket sentenced him to 25 years in jail.
On 13 Sep 2024, The Block reported that SBF had filed an enchantment, requesting a brand new trial.
SBF’s lawyer criticised New York District Decide Lewis Kaplan’s dealing with of the case. The lawyer claimed that SBF shouldn’t have been prevented from introducing sure proof.
Moreover, the lawyer argued that SBF was presumed responsible earlier than he was even charged by the media, the FTX debtor property, and its legal professionals.
In accordance with SBF’s lawyer, the court docket didn’t permit SBF to current proof displaying that FTX’s sister corporations, corresponding to FTX US and Alameda Analysis, weren’t bancrupt.
FTX Token Worth Motion
The present commerce worth of the FTX token (FTT), the native token of the FTX crypto change, is $1.32. It appears that evidently this information acted as a small catalyst to spice up the token’s commerce worth.
Nevertheless, it’s essential to notice that this token has had no use case since November 2022, following the collapse of the FTX empire. Moreover, in the course of the chapter proceedings, it was confirmed that the FTT token wouldn’t be utilized by any FTX management sooner or later. In brief, it’s now a ineffective crypto token.
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