Aug 4, 2023

Sam Bankman-Fried's defense isn't denying that he shared former Alameda Research CEO Caroline Ellison's diary with the New York Times, and therefore he should be "detained pending trial," according to the latest filing from the U.S. Department of Justice.

Video transcript

Some news about an old coin favorite that's Sam Bank. Uh He's a disgraced ex CEO of FDX, of course. Um And the headline from our story yesterday was Sam Bank Fried faces jail time. His justice department pushes for incarceration. And the background here is that uh Department of Justice which is prosecuting SPF is accusing him of improperly influencing witnesses in the case, particularly Caroline Ellison, excuse me. Uh That's the former CEO of Alameda Research, which was part of the FTX Empire. Uh And this relates to a story in the New York Times recently, uh publishing Ellison's private diary which uh SPFS defense team isn't denying came from him. Uh And basically, the DOJ says that this leak amounts to more than fair comment to the media in this case and was an attempt to discredit that witness. Uh um And now the DOJ is asking the court to send SPF to jail and this isn't the first time the DOJ has accused SVF of doing this of trying to influence witnesses. And uh it seems uh this is a continuation of SPF singing like a Canary when everyone says he should just be quiet and he just can't seem to stop intervening in this case. So what do you think guys, this is not just any witness, Ben, this is reportedly an ex flame of SPF. So there is something certainly a bit Machiavellian here that uh adds another degree of richness to this unending saga. So gotta say it, you know, based on some reporting from Tracy Wong and Coindesk first getting that story out into the world that there was some personal relationships in addition to the business relationships that defined the FTX and Alameda uh connectedness, I guess in this instance. So, um yeah, certainly. Um you know, the judge here, I think is gonna have uh an interesting choice to make, right? Um Does Sam Bagman have the ability to communicate with the press uh or should this be seen as, you know, uh a step too far and should, you know, subsequent action as it relates to his bail bond, all that stuff uh be taken and that's really what it comes down to. Uh whether or not, you know, this is um uh another in a long line of uh actions that suggest that, hey, maybe home confinement is not the appropriate punishment in the immediate term leading up to this October trial that everyone is waiting for. So, yeah, it's, it's, it's gonna be a tough decision, tough call, gonna be curious to see which uh which side the judge lands on. But yeah, well, what are your thoughts. Yeah. Part of me just wants to not hear about this story anymore and for one reason only and that's because there's always something more interesting happening day after day and we just kind of see it as it passes by us. Right. Instead I would love to wait until the ending and get it all rolled out by some awesome director who can just put the story together for us as opposed to just kind of covering it and bits and bits and pieces as it comes out because this is really juicy stuff, right? Like we have two lovers, we have someone stuck at home in their parents' basement, uh might be going to jail. He was extradited from Bahamas. They ran one of the biggest uh exchanges in crypto and there's lots of great pieces here and talk about this time and time again. But every time we talk about it, there's like a little nugget that we add to the story a little bit here and there. Uh So I'm, I'm just waiting for all that to happen. I kind of want to gloss over till we get there. But unfortunately, that's not what we do, you know, we're covering the news. So Danny. Yeah. Now who would you cast as Sam in this movie? I think that I, I think that I would ask Timothy shame to be a character actor gain a lot of weight. I think he's perfect for the role. What about you. What do you think Jonah Hill is a solid choice for someone there? That's, I like the Jonah Hill. Shout out on, on a more serious, on a more serious note. Like the thing that I can't get away from on this case is this guy just cannot shut up. I think there was a statistic out there. He's made 1000 calls to uh lawyers in the past few months. All, I'm sorry not to lawyers. He's made more than 1000 of lawyers. He's made 1000 calls to journalists. Not me. Unfortunately, in the past few months, um all trying to shape the narrative and it's well established in the courts that defendants, you have the right to talk to the press about themselves. It's definitely not advisable from a legal, legally wise perspective, but it is allowed on the first amendment to talk and try to try to talk about your case and yourself. What's not allowed that the feds are saying is trying to influence um influence witnesses and corrupt the state of play. And that is what Sam is alleged of having done here. And that is why he could face jail time before it's prison time. So, you know, that's something to think about. Don't do crimes, kids definitely think about it. Definitely don't tamper with any witnesses. You heard it here first.

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