Coinbase’s Legal Expert List Expectation From FTX’s Sam Bankman-Fried Trial
Paul Grewal, Coinbase’s Chief Legal Officer (CLO), has provided insights into what can be anticipated during the jury selection process for the trial of Sam Bankman-Fried (SBF), the former CEO of the now-defunct cryptocurrency exchange FTX. The trial is scheduled to commence on October 3.
Grewal acknowledged that the voir dire proceedings have generally improved over time, as in the past, the process could be protracted, spanning several days. Consequently, he expects a swift jury selection for Sam Bankman-Fried, with the court striving to ensure a fair trial while also being mindful of not unduly consuming the time of prospective jurors.
The jury selection for SBF’s trial is slated to take just one day (October 3), with the trial officially commencing on October 4, as per the trial calendar. The prosecution is set to present its case on that day.
During the voir dire proceedings, both parties will question potential jurors to assess their competence and uncover any biases that might influence their judgment.
However, Grewal anticipates that Judge Lewis Kaplan, presiding over Sam Bankman-Fried’s case, will play an active role in the questioning, as federal judges are known to have more involvement compared to their state counterparts. These federal judges don’t simply delegate the process to the lawyers because they understand that both sides seek a jury that can favor their case.
Sam Bankman-Fried’s jury is expected to consist of 12 jurors from diverse backgrounds. They will be responsible for delivering a unanimous verdict on each of the seven fraud-related charges facing the defendant. This composition of jurors is deemed crucial to ensuring a fair outcome.
However, Grewal pointed out that prosecutors often prefer their case to rely on compelling evidence rather than the makeup of the jury. This preference may stem from the recognition that biases can exist depending on the composition of the jury, whereas solid evidence is difficult to refute.
Grewal appears to be among those anticipating a conviction, as he noted the presence of substantial incriminating evidence in the case. If Sam Bankman-Fried is found guilty of all charges, he faces a statutory maximum sentence of 110 years.
ETF Filings Changed The Bitcoin Movement — Ledger CEO
Over the last 12 months, some investors have learned a harsh lesson about the importance of moving their cryptocurrencies offline. Those who held Bitcoin (BTC) and altcoins on crypto exchanges like FTX found themselves losing control of their assets, sometimes permanently. This highlighted the well-known adage in the crypto world: “Not your keys, not your coins.”
However, FTX’s misfortune became a significant boon for Ledger, the hardware wallet manufacturer. The bankruptcy filing of the Bahamas-based exchange in November 2022 resulted in Ledger experiencing “our biggest sales day ever,” as stated by Ian Rogers, the firm’s Chief Experience Officer. Moreover, November marked a historic high in sales for Ledger.
While Paris-based Ledger has been on an impressive growth trajectory recently, the past year has not been without its share of controversies. In May, for instance, the company faced industry criticism for launching a new service called Ledger Recover, designed for secret recovery phrase storage. Nevertheless, Ledger remains one of the most well-known and widely used crypto wallet manufacturers worldwide.
Cointelegraph recently had the opportunity to interview Ian Rogers and Ledger’s CEO Pascal Gauthier in New York City. They discussed various topics, including the evolving crypto landscape in the United States, the latest developments in crypto storage, and the disparities in conducting business between the U.S. and Europe.
Shiba Inu Discord Admin Alerts Community For Satoshi’s Tweet
In a recent development, DaVinci, an administrator on the Shiba Inu Discord channel, issued a formal apology to the community. This apology has ignited speculation among investors, although it garnered strong support from many community members. The backdrop for this apology stems from a prior communication in which DaVinci had generated excitement and anticipation by alluding to a potentially compromised Satoshi account.
Notably, Satoshi Nakamoto, the elusive creator of Bitcoin, recently broke a five-year silence by posting a tweet on the X platform. This unexpected event sent ripples of speculation and anticipation throughout the cryptocurrency community.
During this period, DaVinci, a prominent figure in the Shiba Inu community, seized the opportunity to suggest that Satoshi’s tweet might catalyze a bullish trend in the cryptocurrency market, which could be advantageous for Shiba Inu investors. The mere prospect of Satoshi’s involvement sparked significant enthusiasm among Shiba Inu enthusiasts.
However, the elation proved to be short-lived. DaVinci soon made a startling disclosure, acknowledging concerns regarding the authenticity of Satoshi’s tweet.
He had received a warning indicating that Satoshi Nakamoto’s X platform account might have fallen victim to compromise. This revelation cast doubt on the tweet’s legitimacy and its potential impact on the market.
Adding to the prevailing uncertainty, DaVinci also mentioned the possibility of a phishing link emerging in the near future.
While unverified, the administrator wanted to caution the Shiba Inu community, emphasizing the critical importance of exercising vigilance when encountering any links shared by the potentially compromised Satoshi account.
Binance And CEO Draw Legal Fire Over Claims Of FTX Manipulation
In a class-action lawsuit filed on October 2nd in the Northern California District Court, serious allegations have been levied against Binance (comprising Binance Holdings Limited, BAM Trading Services, and BAM Management US Holdings) and its CEO, Changpeng Zhao (“CZ”), regarding their alleged attempts to monopolize the cryptocurrency market through what are claimed to be detrimental strategies aimed at their competitor FTX.
The legal dispute, initiated by Nir Lahav, a California resident, is unveiling a complex web of competitive corporate tactics, social media declarations, and the resulting market fluctuations.
The heart of the lawsuit centers on a series of statements made by Changpeng Zhao on Twitter, particularly during the critical period leading up to FTX’s decline in early November 2022.
A specific focus is directed at a tweet by Zhao on November 6th, where he stated, “Due to recent revelations that have come to light, we have decided to liquidate any remaining FTT on our books.”
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