In the ongoing Sam Bankman-Fried (SBF) trial, a late-night legal twist has caused a stir in the courtroom as the lawyers on one side didn’t follow the court’s rule about not filing things late at night. This happened after BlockFi CEO Zac Prince testified about BlockFi’s financial dealings with FTX, which totalled at least $850 million from July to early November.
The lawyers on the other side went against the court rule and sent a five-page letter at 11 p.m. on a Friday. This unconventional move aimed to emphasize the impact of SBF’s tweets on the decisions made by key witnesses involved in the trial.
One such witness was Marc-Antoine Julliard, a London-based commodities broker and cocoa trader who shared his experience as an investor in FTX.
He testified that his decision to invest in cryptocurrency trading on the exchange was influenced by a range of factors, including high-profile endorsements, SBF’s presence in influential circles like those of Bill Clinton and Tony Blair, the influx of venture capital funds into FTX, and the defendant’s social media posts advocating the use of cryptocurrency for noble causes.
Mr. Julliard had invested approximately $100,000 in FTX, with holdings in both Bitcoin and traditional currency. Despite early signs of trouble at FTX in November, he opted not to withdraw his investments after seeing a tweet from SBF assuring everyone that things were fine. Unfortunately, shortly after that, he could not access his funds.
Meanwhile, Sam Trabucco, the former co-CEO of Alameda, another company linked to FTX, is interested in the trial.
Although he hasn’t faced charges for his involvement in the FCPA with FTX and Alameda, new information places him in a November group chat, raising questions about his role in the events leading up to this trial.
As the SBF trial unfolds, it’s clear that the legal teams are sparing no effort to present their cases. Late-night legal maneuvers and unexpected witnesses like Marc-Antoine Julliard add intrigue to a trial that holds significant implications for the world of finance.
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