Sep 13, 2023

FTX founder Sam Bankman-Fried will have to continue preparing his defense from behind bars, after a U.S. federal judge refused his motion for a temporary release.

Video transcript

FX founder Sam Bagman Fried will have to continue preparing his defense from behind bars. Oh, of course, Sam joining us now to discuss this coin desk, global policy and regulation. Managing editor Nick Day who is also the editor of coin desks. Absolutely positively must read state of crypto newsletter. Good morning, Nick. Happy Wednesday. Good morning. Ok. So Judge Lewis Kaplan had some rulings here. Can you walk us through it, please? Yeah. So this was a fairly brief, you know, page and a half or so yesterday with a couple of reasons that Judge Kaplan uh felt basically, you know, did not warrant Beman freed to be released from jail ahead of trial. Uh They range from, you know, some of them were kind of saying first off bank f freed is, you know, incarcerated as a result of his own actions. And the, you know, one of the defense arguments because there's not enough time because of all the discovery and stuff. He, the judge was not particularly convinced by that. Um He pointed out that, you know, uh defense had requested a trial around October, September, October of this year. So they got quote, what they wanted. Um, he found also like, you know, the, the argument that Banken Fried really needed to work on his defense using, you know, an internet and naval laptop while out on, you know, release uh out of jail. Uh Judge really did not agree with that. You know, he said that a defendant, you know, does not have the right to review every single piece of discovery that flows across his desk. Uh, You know, literally said that bank has a team of lawyers, uh you know, who can do that for him. Um Basically, you know, basically just dismantling a lot of the arguments and saying that, you know, Bein Fried has not proven that he needs to be able to leave to access whatever discovery documents he needs. Uh He did say that the defense team can try again with a more persuasive argument. Nick, the, the back and forth about Sam being in or out of jail and the computer having internet access or not having internet access is exhausting even for me to read. How is the judge reacting? What's the judge's um attitude like each time we have this discussion? So what's really interesting is the order didn't really get into that part of it, right? The order was kind of saying like, you know, uh bare does not need to be released from jail. He does not need to have, he didn't really address the conditions that the defense has been complaining about for three weeks now or four weeks now. Um You know, the last hearing that we had, we saw there was a virtual hearing uh about three weeks ago where the judge said, um, you know, give me a report, tell me uh what the conditions are. The DOJ filed their version, the defense filed their version and the judge kind of, you know, didn't really speak to that at all. That was Nick Day Coindesk global policy and regulation, managing editor and don't forget to sign up, sign up for his brand new newsletter. You don't need a strong internet connection to get it. It's called the SPF trial. Nick will take you inside the courtroom where Sam Bakeman freed faces off with the feds.

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