Lawyers representing former FTX CEO Sam “SBF” Bankman-Fried are seeking to introduce information from the crypto exchange’s terms of service during witness testimonies in the ongoing criminal trial. The defense team aims to address evidentiary issues related to the alleged misuse of FTX funds. Prosecutors and the defense have differing theories on the matter, with the defense arguing that compliance with the terms of service is a defense to the charged offense. The defense plans to question witnesses, including FTX customers and investors, about their understanding of the terms of service and the factors they considered when entering into transactions. They also seek to exclude testimony from “lay fact witnesses” and challenge the testimony of Paradigm co-founder Matt Huang. The defense argues that the government is trying to avoid its burden of proving misappropriation beyond a reasonable doubt by relying on customers’ beliefs and expectations. The trial, in which Bankman-Fried has pleaded not guilty, has seen testimonies from former Alameda Research CEO Caroline Ellison and BlockFi founder CEO Zac Prince. The trial has been adjourned until October 16.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	negative
Relevance Score	1
People	Zac Prince, Caroline Ellison, Matt Huang, Sam Bankman-Fried
Companies	BlockFi, Alameda, FTX, Terraform Labs, United States District Court for the Southern District of New York, Paradigm, Three Arrows Capital
Currencies	None
Securities	None