Sam Bankman-Fried's Crypto Trial Advances With Juror Dismissals

The trial of Sam Bankman-Fried, the controversial co-founder of the now-defunct crypto exchange FTX (CRYPTO: FTT), is underway with the initial phase of juror selection and assessment.

This process, overseen by U.S. District Judge Lewis Kaplan, continued into its second day after some potential jurors were dismissed on the first day.

As the court proceedings gain momentum, it's worth noting that events like these are shaping the future of digital assets. For a deeper dive into the evolving landscape of cryptocurrencies, consider attending Benzinga's Future of Digital Assets conference on Nov. 14.

On Tuesday, Bankman-Fried made his courtroom entrance, noticeably sporting a shorter hairstyle and flanked by his legal team.

The court's objective is to finalize a jury comprising 12 members and an additional six alternates by the end of Wednesday.

According to reports, some of the potential jurors had personal experiences with cryptocurrency losses.

One mentioned their firm's investment in FTX and Alameda Research, which led to financial setbacks.

Another shared their fiancé's unfortunate experience with crypto investments.

Also Read: Former BlackRock Insider Foresees Bitcoin ETF Green Light By SEC Within Months

Interestingly, one individual was associated with Signature Bank, a financier for FTX dealings.

Throughout the proceedings, Bankman-Fried was seen actively engaging with his lawyer, Andrew Cohen.

Judge Kaplan emphasized to the jurors the importance of refraining from external research or discussing the case on digital platforms.

"I wouldn't be shocked if some of you are familiar with this case," Kaplan commented, hinting at the trial's high-profile nature.

He also indicated that the trial's opening remarks are slated for the morning of Oct. 9, 2023.

Observers noted Bankman-Fried's use of a secure laptop provided by the court during the session.

A moment of tension arose when a potential juror voiced apprehensions about the case possibly involving capital punishment.

Judge Kaplan swiftly alleviated these fears, confirming that such a penalty was not on the table.

After the initial round of questioning, approximately 50 potential jurors remain, from which the final jury and alternates will be chosen.

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