Sam Bankman-Fried Appeals Decision Jailing Him Ahead of Trial: Reuters

A judge had previously revoked bail for Bankman-Fried after he tried to tamper with witnesses. His lawyers argue that it is his constitutional right to have a fair chance to prepare for trial.

AccessTimeIconAug 28, 2023 at 6:07 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Sam Bankman-Fried’s lawyers have appealed a judge’s decision to send him to jail while he is waiting to start trial over several allegations tied to the collapse of his former crypto exchange FTX on October 3, Reuters reports.

U.S. District Judge Lewis Kaplan, who will oversee the entire trial that will take place in the U.S. District Court for the Southern District of New York, had previously revoked the FTX founder’s bail saying that he tried to tamper with witnesses, including former FTX.US general counsel Ryne Miller and former Alameda Research CEO Caroline Ellison. Bankman-Fried’s attorneys said they would appeal at the same hearing, and tried unsuccessfully to keep him out of jail until the appeal was heard.

Bankman-Fried had shared part of Ellison’s private diary with the New York Times which Judge Kaplan deemed as an attempt to harass and intimidate her, but the former billionaire crypto mogul claims he only acted out of protection for himself, according to documents seen by Reuters.

"It is unclear how a cooperating witness who has promised to testify against a defendant could be meaningfully threatened by nothing but their own statements being published by a reputable newspaper," his lawyers wrote.

Bankman-Fried is currently locked up at the Brooklyn Metropolitan Detention Center which his lawyers have argued multiple times interferes with his preparation for trial, which is a constitutional right. He is set to go on trial on allegations of wire fraud, commodities fraud, securities fraud, money laundering and related conspiracy charges.

Edited by Nikhilesh De.


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; 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.

Helene Braun

Helene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show. Helene is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.

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 to register and buy your pass now.