Several former executives from cryptocurrency exchange FTX and related companies are expected to testify in the U.S. Department of Justice's criminal case against Sam "SBF" Bankman-Fried.
Assistant U.S. Attorney Danielle Sassoon disclosed during the jury selection for SBF's trial on October 3 that individuals such as former Alameda Research CEO Caroline Ellison, FTX co-founder Gary Wang, former FTX director of engineering Nishad Singh, and former FTX chief operating officer Constance Wang are among the potential witnesses who may testify against Bankman-Fried. Ellison, Gary Wang, and Singer have already pleaded guilty to charges related to their involvement in the FTX collapse.
Notably, former FTX Digital Markets co-CEO Ryan Salame, who is directly linked to the criminal case, will not be testifying.
Assistant U.S. Attorney Sassoon also mentioned Anthony Scaramucci, co-founder of SkyBridge Capital, as a potential witness. Scaramucci has previously criticized SBF for his role in the 2022 cryptocurrency market downturn.
Judge Lewis Kaplan presided over the initial proceedings of the SBF trial and questioned potential jurors about various aspects of the case, including timing, hardship, and conflicts of interest. He cautioned them to avoid consuming any media related to the trial.
As of the last update, Judge Kaplan had dismissed four of the 12 prospective jurors. Jury selection will continue on the morning of October 4. The trial is expected to extend into November, with Judge Kaplan indicating that the case requires relatively little time as long as the lawyers believe it will.
The opening arguments in the criminal trial are set to begin on October 4, with both the defense and prosecutors allotted approximately 25 to 40 minutes each to address the jury. Bankman-Fried faces seven criminal charges in the first trial, with five additional charges to be addressed in a second trial scheduled for March 2024.
