Tag: Cryptocurrency

The upcoming fraud trial of FTX founder Sam Bankman-Fried recently faced a major development regarding expert witnesses. Federal prosecutors filed motions to completely exclude all seven expert witnesses noticed by Bankman-Fried’s defense team. The Government argues the testimony of experts including a barrister, professors, and industry professionals would be irrelevant, unreliable, confusing, or prejudicial. Specifically, prosecutors say the witnesses improperly intend to offer legal conclusions that are the court’s purview, speculate about Bankman-Fried’s intent, provide unnecessary background, or discuss industry practices unrelated to the allegations. Authorities also contend some experts lack qualifications to opine on cryptocurrency and FTX, while others failed to adequately disclose their opinions and analysis as required. The prosecution’s motions aim to block expert testimony that they say either usurps the roles of the judge and jury, lacks a scientific basis, or seeks to distract from the core issues of alleged fraud, misappropriation, and false statements. The court has not yet ruled on whether to exclude the defense experts. Jury selection for Bankman-Fried’s New York trial on charges tied to FTX’s collapse begins October 2.