Feb 17, 2023

Judge Suggests Revoking FTX CEO’s Bail Over Witness Tampering

Sam Bankman-Fried, the former CEO of FTX, could be sent back to jail until his trial in October after a federal judge suggested there was “probable cause” to believe he may have engaged in attempted witness tampering.

During a Feb. 16 hearing on Bankman-Fried’s bail conditions, Judge Lewis Kaplan said there was “probable cause to believe that he has committed or attempted to commit a federal felony while on release, namely witness tampering,” according to multiple reports.

Judge Kaplan suggested that this could “conceivably” see Bankman-Fried sent back to jail, though noted that the Feb. 16 hearing was not a bail revocation hearing.

“Why am I being asked to turn him loose in this garden of electronic devices?” Kaplan reportedly said.

The day before the hearing, prosecutors asked Judge Kaplan to further restrict Bankman-Fried’s device usage to a single monitored computer and cellphone, citing recent device usage as cause for concern.

During the hearing, Judge Kaplan suggested that it was naive to believe that these restrictions would stop Bankman-Fried from using the internet, given that he is living with his two parents, who both have laptops and cellphones.

Prosecutor Nicholas Roos seemingly agreed, suggesting there may not be a “great solution,” which prompted Kaplan to imply 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, however, 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.

The news that Bankman-Fried may face jail time has sparked shock and disbelief within the crypto community, as many question why he has not yet had his bail revoked.

However, this latest development is a reminder of the importance of using caution when engaging in activities related to the web3 space, particularly when it comes to NFTs, crypto, and NFT marketing.

Many crypto firms are now turning to NFT marketing agencies to help them promote their NFTs and maximize the potential of their crypto investments.

A web3 agency can help with NFT marketing, including the use of Twitter and other social media platforms. They can also advise on the best ways to sell NFTs and ensure that all legal and financial requirements are met.

Ultimately, Bankman-Fried’s case serves as a reminder of the potential consequences of engaging in activities related to the web3 space, and the importance of working with an experienced web3 agency when selling NFTs.

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.