Stay Tuned: The Intriguing Progress of His Trial Reveals Potential Challenges for SBF

The high-profile trial of former crypto superstar Sam Bankman-Friedman is reaching its halfway point, with a six-week duration in mind. An analysis conducted by the Washington Post suggests that SBF might be facing serious trouble. According to former federal prosecutor Samuel Buell, “The case has turned out to be not only as strong as it was expected to be but, if anything, stronger.” Tory Newmyer of the Post quotes Buell adding, “Defense lawyers can’t make strong evidence go away. I don’t know where they go from here.” Prosecutors are currently focusing their efforts on SBF’s inner circle, particularly Caroline Ellison, his on-and-off girlfriend who ran his Alameda Research hedge fund.

Ellison has placed the blame for the financial wrongdoing at Alameda and the trading platform FTX solely on Bankman-Fried. Jurors were even presented with a recording of her making these accusations during an employee meeting as the two companies were falling apart, as per Reuters. Adding to SBF’s challenges, his defense team “appeared to struggle to respond during their cross-examination” of Ellison, as noted by Newmyer. This lack of effective response did little to alter the perception of what Ellison stated in court. A post on the Ringer also points out that the defense has been “floundering” so far.

In light of these circumstances, Katie Baker suggests that the defense team might take the risky step of having SBF testify when it’s their turn to call witnesses. According to Baker, “It’s a long shot that testifying would help SBF—but long shots are what Bankman-Fried has always been all about.” Newmyer views this as a potential “all-or-nothing gamble,” indicating that the defense feels forced to make this move if things continue in their current direction. (Read more Sam Bankman-Fried stories.)