Sep 29, 2023

Sam Bankman-Fried will head to court on Oct. 3, facing charges related to fraud and conspiracy.

Video transcript

Former friends and colleagues are set to testify against Sam Bank and Fried who will take the stand and who won't. We've got you covered on this special edition of coin desk daily. Taking a look at the SPF trial. I'm your host, Jen, former FTX CEO Sam Baman Fried's criminal trial starts on October 3rd where he'll face charges related to fraud and conspiracy. He's pleaded not guilty to all charges. Once known as kryptos, White Knight Bank Man Fried has fallen from grace and some of his ex employees will take the stand against him. Caroline Ellison is one of the most highly anticipated witnesses set to testify. Ellison was the CEO of Alameda Research, the market maker under FTXS umbrella in December 2022. She pleaded guilty to fraud charges and signed a plea deal with the US Attorney's office of the southern district of New York. Her parents are mit economists and she allegedly had a romantic relationship with bank been freed was the Director of Engineering at Alameda Research and just like Ellison lived with Bank Fried in his 10 person luxury penthouse in the Bahamas. He eventually served as the head of engineering at FTX and was rumored to be one of the three people who controlled keys to FTXS matching engine and may have known about the alleged misuse of customer funds. Bank Fried wrote in a company blog that his brother was best friends with sing in high school. Gary Wang is the co-founder of Alameda Research and FTX, he served as chief technology officer at both firms, Wang Embankment Freed, attended the same math camp in high school and shared a dorm while attending mit according to the Wall Street Journal, Ellison said Wang knew about the co mingling of funds between FTX and Alameda. He was also one of the 10 roommates living in the luxury penthouse. Notably, a few folks closely tied to both Alameda Research and FTX will probably not be involved in the trial. Sam Trico is one of them, Trico shared the CEO role at Alameda Research with Alison before she took over as the sole CEO. In 2022 Tribu oversaw a expansion into riskier trades claiming that he led the firm to huge profits in an expo. From 2021. Ellison did not include Tribu among a list of named persons who knew about the decision to send customer funds to Alameda. That's according to the journal. As of now, we also won't be hearing from William mccaskill, a Scottish philosopher and professor at Oxford University who is known to be the thinker behind effective altruism which was adopted by SPF mccaskill served as an advisor to be philanthropic fund and later resigned. That's it for Coindesk Daily. Want to know who else will be taking the stand during the SPF trial. Get all those updates on coindesk dot com and don't forget to sign up for the SPF trial newsletter. We'll see you next time.

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