Zinger Key Points
- The plea proposes his release on Oct. 2 with strict conditions, including limited communication.
- Bankman-Fried agrees to be monitored, ensuring no access to electronic devices during the trial.
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FTX FTT/USD founder Sam Bankman-Fried has once again sought a provisional release from detention during his ongoing trial.
This development, garnering attention from the crypto community, is expected to be a topic of discussion at Benzinga's Future of Digital Assets conference on Nov. 14.
Bankman-Fried's bail was first rescinded in August, leading to his incarceration after the court believed he might have attempted to influence witnesses.
His plea to reverse this decision on Sep. 12 was turned down, and a subsequent appeal on Sep. 21 also faced rejection.
However, his attorneys, in a letter to the presiding judge, highlighted that the court hasn't completely shut the door on future applications from the defense.
They emphasized the challenges they face in trial preparations, acknowledging the government's efforts in supplying them with necessary case resources.
The defense team pointed to the daunting task of sifting through a list of over 50 potential witnesses, thousands of documents, and more than 1,300 exhibits provided by the government.
They expressed concerns about not knowing the sequence in which these witnesses would be called, making it tough to strategize for "the subsequent day's testimonies and evidence during the non-court hours."
The latest plea proposes Bankman-Fried's release on Oct. 2, a day prior to his trial, with five stipulations he commits to follow.
Also Read: Taiwan Regulators Unveil 'Guiding Principles' To Regulate Digital Assets, Crypto
Outside the courtroom, he will either be at his lawyers' offices, an external workspace, or under the watch of a security guard in a temporary NYC residence.
He will only leave the court premises with his legal team and will work alongside them in preparation for the trial. Furthermore, Bankman-Fried agrees to a communication restriction, limiting his interactions to only his legal team, parents, and siblings throughout the trial.
Starting from 10 p.m., private security personnel will monitor him to ensure he stays away from any electronic devices, including computers and phones.
This comes after previous disagreements between the defense and prosecution regarding Bankman-Fried's laptop access.
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