Sam Bankman-Fried, the former CEO of cryptocurrency exchange FTX, is facing a criminal trial in the United States Justice Department. During jury selection on Oct. 3, Assistant U.S. Attorney Danielle Sassoon revealed that former Alameda Research CEO Caroline Ellison, FTX co-founder Gary Wang, former FTX engineering director Nishad Singh, and former FTX chief operating officer Constance Wang may testify against Bankman-Fried. SkyBridge Capital co-founder Anthony Scaramucci, who has previously criticized Bankman-Fried’s alleged role in the crypto market downturn of 2022, was also mentioned as a potential witness.Judge Lewis Kaplan started proceedings in the trial by asking prospective jurors questions related to the case. He confirmed that prosecutors had not offered Bankman-Fried a plea deal and warned them to avoid consuming media related to the trial. Four out of twelve prospective jurors were dismissed and selection will continue on Oct. 4. The trial is expected to last through November.Opening arguments in the criminal trial are expected to begin on Oct. 4, in which the defense and prosecutors will each take roughly 25-40 minutes to address the jury. Bankman-Fried faces 7 criminal counts in his first trial, with another 5 charges to be addressed in a second trial starting in March 2024.

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Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	8
People	Anthony Scaramucci, Constance Wang, Nishad Singh, Gary Wang, Caroline Ellison
Companies	SkyBridge Capital, 60 Minutes, FTX, United States Justice Department, Alameda Research
Currencies	None
Securities	None