SBF's lawyers argue that he has no prior involvement in unauthorized transactions, and ask the court to remove the bail condition.
A letter from Bankman-Fried's lawyer, Mark Cohen, to United States District Court Judge Lewis Kaplan stated that Bankman-Fried should have access to assets held by FTX, claiming the client was not involved in previous unauthorized transactions.amid the collapse of the cryptocurrency exchange in November 2022, according to Nansen data reported by Cointelegraph. Bankman-Fried denied any involvement in the transactions.
As per the letter sent to Judge Kaplan, Bankman-Fried was “prohibited from accessing or transferring any FTX or Alameda assets or cryptocurrency, including assets or cryptocurrency purchased with funds from FTX or Alameda”, as requested by U.S. authorities at the first court hearing on Jan. 3. At the time, prosecutors acknowledged that there was no evidence that Mr. Bankman-Fried had transferred funds and noted that a federal probe was underway.
As per Cohen's letter, Bankman-Fried should have unlimited contact with his father, therapist, and any employee or agent of a foreign regulator outside the presence of attorneys. The defense stated: "For example, it would mean that Mr. Bankman-Fried could not speak to his therapist, who is a former FTX employee, without the participation of his lawyers. According to public sources, FTX and Alameda had approximately 350 employees. Each of these current and former employees could have information crucial to Mr. Bankman-Fried’s defense. Requiring Mr.
On Nov. 11, FTX filed for bankruptcy protection and Bankman-Fried resigned as the company's CEO. On bail at his California family house, he faces eight charges, including wire fraud and money laundering.
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