As the founder and CEO of the crypto-focused FTX Exchange, Sam Bankman-Fried is one of the most prominent figures in the digital currency world. Recently, Bankman-Fried was accused of fraud by the U.S. government. As his trial approaches, speculation is mounting about who will be called to testify.
The U.S. government is alleged to have asked Bankman-Fried to pay a $2.7 million fine for his involvement in an initial coin offering (ICO) that was unregistered with the U.S. Securities Exchange Commission. Bankman-Fried pleaded guilty and accepted the fine. However, his fraud trial is still set to begin in April.
Naturally, the list of potential witnesses is very long, though some stand out more than others. At the trial, prosecutors will likely call experts in digital currencies and securities to testify about Bankman-Fried’s involvement in the illegal ICO. Bankman-Fried will likely bring in some of his own experts who can explain the law and the complexities of digital currencies in more detail.
For example, Joseph Tripodi, an attorney for Morgan Lewis and a former prosecutor for the Southern District of New York, is likely to testify on Bankman-Fried’s behalf. Tripodi is an expert in securities and commodities law and will likely be able to explain in greater detail why Bankman-Fried’s actions were not criminal.
Other experts who may be called to testify include representatives from the SEC, the Financial Crimes and Enforcement Network (FinCEN) and the Department of Justice. These officials will be able to explain the laws governing the digital currency world as well as provide additional insight into Bankman-Fried’s alleged activities.
Finally, there is likely to be at least one private citizen called to testify. This individual would be a former participant in Bankman-Fried’s ICO who could provide insight into the entrepreneur’s tactics and intentions. By providing an insider’s perspective, this witness could help shed light on how Bankman-Fried operated the ICO and whether or not he was intentionally trying to defraud investors.
Ultimately, it is impossible to predict who will be called to testify in the upcoming trial. However, it is likely to be an interesting affair as the digital currency world watches one of its own stand trial for fraud. With the court date quickly approaching, the list of potential witnesses is sure to grow.