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TL;DR
As we speak marks the kickoff of Sam Bankman-Fried’s trial!
The potential sport plan for SBF’s protection? Go together with the previous “I had no clue what I used to be doing” argument.
However this method is RISKY! There is a good probability that key members from SBF’s inside circle, together with FTX co-founder Gary Wang, former head of engineering Nishad Singh, and former CEO of Alameda Analysis Caroline Ellison, will every testify towards him.
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As we speak marks the kickoff of Sam Bankman-Fried’s trial!
The previous FTX CEO of is going through a not-so-humble seven counts, together with wire fraud, securities fraud, plus a complete bunch of different frauds.
His destiny balances on one factor:
Whether or not or not prosecutors can show SBF’s intent to defraud clients by his actions.
The potential sport plan for SBF’s protection?
Go together with the previous “I had no clue what I used to be doing” argument.
(The identical one your little cousin used when he spent $200 on Fortnite skins, utilizing his mother’s bank card).
SBF has made this argument a bunch of occasions publicly, pushing the narrative that he was merely an inexperienced businessman who bought out over his skis, and that he by no means knowingly dedicated fraud.
However this method is RISKY!
There is a good probability that key members from SBF’s inside circle, together with FTX co-founder Gary Wang, former head of engineering Nishad Singh, and former CEO of Alameda Analysis Caroline Ellison, will every testify towards him.
If/when that occurs, it’s going to develop into a lot more durable for SBF to play the “Ooops, foolish inexperienced me” card.
Alright, that is it for now! We’ll maintain you up to date as we be taught extra.
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