The Second Day of Sam Bankman-Fried’s Trial: Jury Selection and Testimonies
The second day of the trial for Sam Bankman-Fried (SBF), founder of the now-defunct cryptocurrency exchange FTX, was filled with jury selection, opening statements, and testimonies from the first two witnesses. The proceedings provided a glimpse into what may be in store for the rest of the trial.
Arrival and Preparation
Sam Bankman-Fried’s lawyers arrived at the courtroom around 9:20 a.m., 10 minutes before the scheduled start time. SBF followed shortly after, looking noticeably different from his previous appearances. Gone were the scraggly curls and casual outfits; instead, he wore a gray suit and purple tie with a neatly trimmed haircut.
Throughout the morning, Bankman-Fried seemed to be glued to his laptop, seated at the front of the room facing federal judge Lewis Kaplan or his main attorney, Mark Cohen. He nodded in private and whispered to his lawyers, occasionally glancing out of the corner of his eye towards the potential jurors.
Jury Selection
The first task of the day was jury selection. The court brought in a pool of 18 potential jurors, from which 12 would be chosen to decide Bankman-Fried’s fate on seven charges related to fraud and money laundering. The government confirmed that it did not offer any plea deals to SBF.
The Jury
The 12 jurors selected were an eclectic group, ranging from 33 to 69 years old, with a mix of men and women. To protect their identities, we have omitted their names, but here are some details about who they are:
- 39-year-old female physician assistant: 10 weeks pregnant, with a background in medicine. Her husband works as a web developer.
- 33-year-old female nurse: Lives alone in Westchester, New York.
- 40-year-old female social worker: Currently unemployed, previously worked in nonprofits managing fundraisers.*
- 53-year-old female Duke University graduate: Divorced stay-at-home mother of two kids, previously worked in nonprofits.*
- 59-year-old male: Married with three kids; one of his children works at a bank.*
- 50-year-old female Metro North train conductor: Mother of five kids with three living at home and two in college.
- 47-year-old female high school librarian: Single, lives with her cats, sister, and sick mother.
- 65-year-old female retired corrections officer: Previously worked as a corrections officer.*
- 38-year-old male software engineer: Works as a software engineer for a tech company.
- 41-year-old female lawyer: Practices law in New York City.
- 56-year-old male accountant: Works as an accountant for a mid-sized firm.
- 29-year-old male data scientist: Works as a data scientist for a fintech startup.
*Indicates previous experience with non-profit organizations.
Testimonies
The first two witnesses to take the stand were employees of FTX, who provided insight into the inner workings of the exchange and its collapse. Their testimonies set the stage for the rest of the trial, which is expected to delve deeper into the events leading up to the demise of FTX.
What’s Next?
The trial has just begun, and there are many questions still unanswered. Will SBF take the stand in his own defense? What new evidence will be presented in the coming days? The next few weeks promise to be intense as the prosecution and defense present their cases.
Follow the Trial
Stay up-to-date with the latest news and developments from the trial by following our coverage on TechCrunch. We’ll provide live updates, analysis, and insights into the key events and testimonies that shape the narrative of this high-stakes trial.
Related Stories:
- How SBF’s trial got here: A brief history of how FTX collapsed and what led to its downfall.
- Crypto industry groups sue IRS over broker reporting rule: The latest development in the ongoing saga between the crypto industry and regulatory bodies.
- Terraform Labs co-founder Do Kwon will face fraud charges in the US: Another high-profile case involving a cryptocurrency founder.
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