CFTC Case Against Sam Bankman-Fried Postponed Until After Criminal Trial

The request to stay the SEC’s civil case against Bankman-Fried is still pending.

AccessTimeIconFeb 13, 2023 at 10:31 p.m. UTC
Updated Feb 13, 2023 at 10:41 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

A judge has granted a request by U.S. prosecutors to have the Commodities and Futures Commission’s (CFTC) civil case against FTX’s Sam Bankman-Fried be delayed until after the criminal fraud case against him is completed.

In a filing last week, prosecutors said a stay in both the CFTC and Securities and Exchange Commission (SEC) cases would save time and resources because the outcome of the criminal case “is likely to have a significant impact on what issues are ultimately in dispute in the Civil Cases.”

The request to stay the SEC case is pending.

Bankman-Fried had consented to the issuance of a stay in the civil cases, as had counsel for fellow FTX and Alameda executives Gary Wang and Caroline Ellison, and counsel for the bankrupt estates of FTX.com and Alameda.

Bankman-Fried has pleaded not guilty to the criminal fraud charges against him. The criminal case is due to begin in October.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Nelson Wang

Nelson Wang was CoinDesk's news editor for the East Coast. He holds BTC and ETH above CoinDesk's disclosure threshold of $1,000.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.