Sam Bankman-Fried (SBF), founder and former CEO of cryptocurrency exchange FTX, will enter a 15-day hearing to defend against lawsuits filed against him by the US Department of Justice (DOJ) in October. 🏛️
While four hearing days are planned every week from October to early November, there will be only two hearing days in the fourth week. SBF is currently incarcerated at the Metropolitan Detention Facility in Brooklyn, where visiting hours have been set outside of court days. 📅
Regarding how long the trial will last, the prosecution estimates it will take 4-5 weeks, while the defense estimates it will take 1.5 weeks. But Judge Kaplan said the trial could end in late November, around Thanksgiving. ⚖️
The situation appears to be getting tougher as many of SBF's defense strategies face court hurdles. Judge Kaplan did not allow SBF to blame FTX lawyer's legal advice or wrongdoings that occurred before the cryptocurrency exchange's collapse.
While four hearing days are planned every week from October to early November, there will be only two hearing days in the fourth week. SBF is currently incarcerated at the Metropolitan Detention Facility in Brooklyn, where visiting hours have been set outside of court days. 📅
Regarding how long the trial will last, the prosecution estimates it will take 4-5 weeks, while the defense estimates it will take 1.5 weeks. But Judge Kaplan said the trial could end in late November, around Thanksgiving. ⚖️
The situation appears to be getting tougher as many of SBF's defense strategies face court hurdles. Judge Kaplan did not allow SBF to blame FTX lawyer's legal advice or wrongdoings that occurred before the cryptocurrency exchange's collapse.