Feb 18, 2023
FTX CEO’s Bail Revocation “Conceivably” Possible After Probable Witness Tampering
Sam Bankman-Fried, the former CEO of FTX cryptocurrency exchange, could potentially have his bail revoked following a federal judge’s ruling that there is “probable cause” to believe he may have attempted to tamper with witnesses.
At a Feb. 16 hearing on Bankman-Fried’s bail conditions, Judge Lewis Kaplan said there was “probable cause to believe that he [Bankman-Fried] has committed or attempted to commit a federal felony while on release, namely witness tampering,” according to multiple reports. The judge suggested that this could “conceivably” lead to Bankman-Fried being sent back to jail until his trial in October.
The same day, prosecutors asked Judge Kaplan to further restrict Bankman-Fried’s device usage to a single monitored computer and cellphone. They pointed to his recent device usage as a cause for concern and sought to further limit and monitor his usage “with limited exceptions.”
Judge Kaplan suggested that it was naive to believe that these restrictions would stop him from using the internet, given that Bankman-Fried is living with his two parents, who both have laptops and cellphones. He implied that revoking Bankman-Fried’s bail could eliminate these risks, noting: “There is a solution, but it’s not one anybody has proposed yet.”
Bankman-Fried’s lawyers argued that they need him to be able to work on his defense, claiming: “We cannot go through these extensive financial records without him.”
The former FTX CEO has been prohibited from using certain messaging apps since Feb. 9, after he was found to have contacted potential witnesses. He was also temporarily banned from using a VPN after prosecutors accused him of using it on two occasions, on Jan. 29 and Feb. 12. The VPN ban was not extended at the Feb. 16 hearing.
Many in and out of the crypto community have expressed shock that Bankman-Fried’s bail has not yet been revoked. Law professor Richard Painter tweeted: “Hey Crypto Bro: Witness tampering while out on bail is a great way to go right back to jail.”
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The Sam Bankman-Fried case has highlighted the importance of NFT marketing and promotion in the web3 space. As the crypto and NFT markets continue to grow, businesses and creators will need to turn to NFT marketing agencies to help them create and execute effective NFT marketing campaigns that will help them reach their target audiences and maximize their NFT sales.Disclaimer: All investment or financial opinions expressed by MoonLanding Media are not recommendations and are intended for entertainment purposes only. Do your own research prior to making any kind of investment. This article has been generated based on trending topics, has not been fact checked and may contain incorrect information. Please verify all information before relying on it.