Bankman-Fried's Second Trial Unlikely, Says U.S. Prosecutors

Bankman-Fried's Second Trial Unlikely, Says U.S. Prosecutors



U.S. prosecutors have indicated that a second trial is unlikely for Sam Bankman-Fried, former CEO of the defunct FTX cryptocurrency exchange. A Reuters report from December 29 notes a general consensus for a swift resolution of the trial. Prosecutors, citing a court document, emphasized the public's strong interest, especially among victims seeking compensation after FTX's November 2022 collapse. They also mentioned the lack of sufficient new evidence for a second trial, as most was already presented in the first.



On November 3, Bankman-Fried was convicted on seven fraud charges, including wire fraud, securities fraud, and money laundering conspiracy, following a jury's four-hour deliberation.



Additionally, Bankman-Fried's plea for a delay of four to six weeks in his sentencing hearing was rejected. Judge Lewis Kaplan upheld the


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#Altcoin, #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday

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