With the upcoming fraud trial of the once hallowed former FTX CEO, Sam Bankman-Fried, the landscape of cryptocurrency is cast under an intensifying spotlight. A list of proposed jury questions submitted by Bankman-Fried to a Manhattan federal court suggests that the case is not simply about black and white judgements; instead, it plunges into a deeper dialogue surrounding the volatile yet promising world of cryptocurrency.
Among the proposed questions we find the intriguing quandary, “If a company involved in the cryptocurrency industry or the financial industry fails, do you feel that only the owners of the company must be to blame?” This brings to light a tension in understanding fault within the context of such a nascent and mercurial sector.
Skimming through other questions we find insights into jurors’ knowledge of FTX and Bankman-Fried, their relationship with crypto trading and their ideas toward philanthropic wealth. Another interesting factor is thrown into the equation with a question related to attention deficit hyperactivity disorder (ADHD), from which Bankman-Fried suffers. With jury questionnaires an integral part of trial, these questions hint at possible issues that might surface during proceedings.
Ironically, the trial, set to fire-up on October 3, is shadowed by the challenge of Bankman-Fried’s limited online access in federal jail, which hampers his trial preparation. Earlier attempts to secure pre-trial release due to connectivity issues have been echoed again recently by his legal team ruing that “The defendant cannot prepare for trial with these kinds of limitations.”
Once snug in his parent’s home in Palo Alto, California with restricted internet access, he was hauled into custody at Manhattan’s Metropolitan Detention Center for fears of possible witness tampering.
Here we are, looking at a case that revolves around the high-tech world of cryptocurrency but entangled in a low-tech problem of internet accessibility. Paradoxically, for a sector championed for its lack of centralization, the beleaguered CEO’s fight depicts how the grasping tendrils of traditional jurisdictions still have a significant play. Consequently, this landmark trial is more than just a case against a single executive; it may well shape our perceptions, regulations, and ultimately, the future of cryptocurrency.
Source: Cryptonews
