Ex-FTX executives who have admitted their guilt in court are expected to testify in the criminal case against Sam Bankman-Fried, FTX’s Founder. Assisting the U.S. attorney with the case, Danielle Sassoon, revealed that potential witnesses include ex-FTX and Alameda Research CEO, Caroline Ellison, FTX co-founder, Gary Wang, and Nishad Singh, former FTX Engineering Director.
During the first session of Bankman-Fried’s trial on October 3, the possible witnesses were identified. Three of the individuals named, Ellison, Wang, and Singh have already pleaded guilty to charges connected to FTX’s fall. Constance Wang, FTX’s former Chief Operating Officer, was also mentioned. Notably absent from the witness list is Ryan Salame, the former co-CEO of FTX Digital Markets, who has been directly implicated in the criminal case.
Surprisingly, Anthony Scaramucci, the co-founder of SkyBridge Capital and critic of Bankman-Fried’s alleged influence on the 2022 crypto market decline, appeared among the potential witnesses. The judge kick-started the proceedings by questioning potential jurors in connection to the case.
Eyewitnesses report that Bankman-Fried, known for his disheveled hair, was seen without his signature look as the trial commenced. Judge Kaplan revealed that no plea deal had been proposed to the former FTX CEO. He also directed prospective jurors to abstain from consuming media content directly related to the trial.
As of reporting time, four of the 12 potential jurors had been dismissed by Judge Kaplan, with further selection continuing on October 4. The trial is scheduled to last until November, though expectations hint at a faster conclusion. The first round of opening arguments in the case will commence on October 4, with charges expected to be heard in two tranches; seven in the first trial and five more in a second trial scheduled for March 2024.