Feb 22, 2023
Experts to Aid Judge in Navigating Bankman-Fried’s Encryption Tech Bail Terms
Former FTX CEO Sam Bankman-Fried’s legal team has agreed to pay for a security expert to help the federal judge overseeing his fraud case in understanding modern encryption technology, which may be used to modify the former executive’s bail terms.
In a letter to Judge Lewis Kaplan, attorneys Christian Everdell and Mark Cohen stated that they have already begun researching and contacting potential experts, and expect to propose one or more candidates to the court by the end of the week.
The decision comes after Judge Kaplan suggested at a bail hearing last week that Bankman-Fried should not be allowed to use a Virtual Private Network (VPN) or any encrypted messaging apps until his bail terms are settled.
A VPN is a tool that obscures and encrypts a user’s internet traffic, and is often used to change IP addresses, add a layer of security to communications, or access censored content in autocratic regimes.
Bankman-Fried’s legal team has argued that he only used the VPN on two occasions – to watch the NFL playoffs on Jan. 29 and the Super Bowl on Feb. 12.
Prosecutors, however, have indicated that the use of a VPN may have enabled Bankman-Fried to access crypto platforms that have blocked US users, and have asked for strict bail terms limiting the former executive’s access to the internet and messaging platforms.
The technical expert will therefore help the judge navigate issues regarding encrypted messages, privacy-focused messaging apps, and VPNs.
In addition, Bankman-Fried’s legal team has also agreed to pay for an independent NFT marketing agency to promote the sale of NFTs, in order to raise funds for the former executive’s legal defense. The agency will use a variety of platforms, including Twitter, to market and promote the sale of NFTs.
The move is part of a larger effort to raise awareness and funds for Bankman-Fried’s legal defense, and is a testament to the growing importance of NFTs and the web3 space.
This innovative approach to fundraising is a reminder that the crypto and web3 space is constantly evolving and adapting to the changing needs of the industry.
It also shows that the industry is becoming more aware of the importance of NFTs and the potential for them to be used for marketing and promotion.
The success of this promotion could potentially set a precedent for other crypto and web3 companies to use NFTs for marketing and promotion, as well as to raise funds for legal defense.
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