Bankman-Fried's defense has been minimally resistive to the prosecution's approach so far.
Former FTX CEO Sam "SBF" Bankman-Fried has been on trial since Oct. 3, but his legal counsel has yet to present a compelling narrative to support his defense.Former FTX CEO Sam"SBF" Bankman-Fried has been on trial since Oct. 3 in a federal court in New York, accused of seven counts of fraud and conspiracy to commit fraud on FTX investors and customers.
Prosecutors have been making their case to prove otherwise. Pieces of evidence presented last week include changes made to FTX's code by Bankman-Fried’s request on July 31, 2019. These changes would grant Alameda Research special privileges as a client of FTX, including exemption from the liquidation engine, and the ability to have an unlimited negative balance on the exchange.
It's fair to note that prosecutors have the burden of proving the alleged crimes, meaning prosecutors must present evidence to support the allegations and convince the jury about the crimes committed. This concept protects defendants from being held liable or convicted without substantial evidence and ensures that they are presumed innocent until proven guilty.
Sam Bankman-Fried's defense counsel arrives at court on Oct. 4. Source: Ana Paula Pereira, Cointelegraph
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