As the prosecution closed its case last week, this week is crucial in trialling the ex-CEO of the bankrupt FTX crypto exchange as it brings the verdict stage for Sam Bankman-Fried.
Following the prosecutor’s closing of the case last week, Sam Bankman-Fried and his lawyers are probably getting ready for their defence this week.
The outcome of their defence this week will likely prove to be a turning point to where this case is headed and the fate of Bankman-Fried.
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In Brief
- By October 26, Sam Bankman-Fried and his lawyers will have to present their next step in the ongoing lawsuit to the court.
- Three days from now, SBF and his lawyers will either choose to initiate a defence and provide evidence and witnesses to the jury, or they can opt to dismiss the case without putting up a defence at all.
- The most likely reaction from team SBF is to put up a defence, especially as the prosecution allegedly discharged the responsibility of proving Bankman-Fried guilt beyond a reasonable doubt even after they spent up to 3 weeks calling nearly 20 witnesses.
- The prediction is that there is no way Bankman-Fried and his lawyer will dismiss putting up a defence and rely on the jury to give their verdict based solely on the evidence provided by the prosecution.
- However, it will be difficult for team SBF to defend since they are already limited in the witnesses they can present, as Judge Kaplan has already dismissed 7 of SBF’s expert witnesses.
- He argued that their testimonies would be either unrelated to the case or could confuse the jury.
- Moreover, it would be challenging at this late hour for SBF’s team to get a witness related to the FTX happenings who can testify in their favour because the prosecution has already made use of those witnesses.
What’s Happening In Crypto Today?
At the time of this writing, Bitcoin is trading at $30,652.40, with a slight rise in market cap by 2.48% and a higher increase in trading volume by 43.42%.
On the side of Ethereum, it is changing hands at $1,676.85 while recording a slight rise in market cap of 2.71% and an increase of 59.72% in trading volume.
- Meanwhile, Toncoin currently sells at $2.16 while recording a slight rise in market cap by 0.01% and a 140.32% increase in volume.
- On the other hand, Chainlink is currently trading at $10.01, with an increase in market cap by 8.60% and a 10.63% increase in trading volume.
- On the side of Dai, it is selling at $0.9999 while recording a slight increase in market cap of 0.01% and an increase in trading volume by 49.69%.
