The high-profile trial of former FTX CEO Sam Bankman-Fried commenced on October 3, attracting significant attention both inside and outside the Manhattan courtroom. Here are some notable observations and details from the first day of the trial:
Bankman-Fried’s Physical Appearance:
- Sam Bankman-Fried appeared noticeably leaner than before.
- He had a shorter hairstyle compared to his previous unkempt curly locks.
- Reporters and observers noted that he seemed less jittery than usual.
- Bankman-Fried was dressed in a navy suit, which appeared somewhat larger on him.
- Media Overflow and Crypto Prom Atmosphere:
Journalists, crypto influencers, and curious onlookers gathered in a media overflow room to follow the trial.
Some described the atmosphere as akin to the first day of school, with a diverse mix of participants, including paid media, crypto influencers, skeptics, and enthusiasts.
Jury Selection:
- Judge Lewis B. Kaplan instructed potential jurors not to conduct research or read press coverage related to the case.
- Jurors were asked about their prior knowledge of FTX and Alameda, and some shared their experiences and opinions on cryptocurrency.
- One juror mentioned hearing about FTX and Alameda on “The Joe Rogan Experience” podcast.
- Another juror had a negative view of cryptocurrency, saying, “I’ve felt negatively about it since I learned about it.” This juror was later dismissed.
Witnesses for the Prosecution:
- The prosecution provided a list of potential witnesses, including former company executives, family members, and representatives from various institutions and organizations, such as Jane Street Capital, Sequoia Capital, BlockFi, Genesis, and more.
- Anthony Scaramucci was also listed as a potential witness.
Trial Duration:
- Judge Kaplan estimated that the trial would last about six weeks, though it could conclude sooner.
- The jury selection process was expected to be finalized on the morning of October 4, followed by opening arguments from both sides.
Overall, the trial of Sam Bankman-Fried is receiving significant attention from the crypto community and the media, and it is expected to continue for several weeks. It will likely have implications for how crypto exchanges and related entities are perceived in the future.