|

SBF trial prosecutors defy court’s moratorium for a five-page evidentiary letter 11 PM Friday

  • Prosecutors defied a court-issued ban on late-night submissions, filing a five-page evidentiary letter at 11PM on Friday.
  • The new evidence includes SBF's tweet(s) "convincing Marc-Antoine Julliard not to withdraw funds on November 6 and 7, 2022.
  • Julliard had testified, citing relentless, high-priced marketing to take a chance on crypto trades within the exchange as thieving strategy.

Sam Bankman-Fried (SBF) trial took a break for the weekend after BlockFi CEO Zac Prince’s testimony, with a standing moratorium or ban for late night submissions. Prince had detailed the lending firm’s exposure to FTX, revealing at least $850 million in loans issued to FTX between July and early November.

Also Read: BlockFi CEO Zac Prince in court after Caroline Ellison as SBF trial continues

SBF trial prosecutors submit new evidence at odd hours

SBF prosecutors went against a court-issued embargo, that no filings should be made late in the night. According to reports by Mathew Russell Lee of the Inner City Press, the prosecuting attorneys filed a five-page evidentiary letter at 11 p.m. on Friday highlighting that SBF's tweet(s) convinced Julliard not to withdraw funds.

Prosecutor's latest filing, October 13 11 PM

Marc-Antoine Julliard is one of the witnesses who took the stand last week before day three revelations from Adam Yedidia, former FTX software engineer and SBF’s friend from their days at MIT. Julliard, a London-based commodities broker and cocoa trader, told the court he had essentially been deceived by FTX’s relentless, high-priced marketing to take a chance on crypto trades within the exchange.

Specifically, Julliard had mentioned an advertisement in the Gisele Bündchen magazine, SBF’s hobnobbing with Bill Clinton and Tony Blair, venture capital firms pouring money into FTX, and the defendant’s  tweets about using crypto “for good.” According to Julliard, these are the factors that drove him to buy into FTX.

Julliard had assets totaling about $100,000, between his four Bitcoins (BTC) and a $20,000 fiat account, but did not withdraw his holdings from the exchange even after seeing the doubts cast on Bankman-Fried’s business in early November. This was because in the same week, SBF posted on Twitter, now X, that “he taking care of it and everything was fine.” Tweets were provided as exhibits. Julliard later realized the magnitude of the trouble in FTX by around November 8, but then it was too late. His withdrawal requests were not being processed by the app.

To this day, Julliard has never been able to recover his money.

Prosecutors claim SBF "lied to the world" to gain influence and riches. His defense says it is just entrepreneurial mistakes.

Sam Trabucco

Still, Sam Trabucco remains a person of interest in the SBF trial. The former Alameda co-CEO has not been indicted for his violation of the FCPA as part of the FTX / Alameda Chinese bribe. While some attribute this to his exiting the firm months before the November implosion, a recent revelation cites him among participants or members in a November goup chat.

November group chat

 

Author

Lockridge Okoth

Lockridge is a believer in the transformative power of crypto and the blockchain industry.

More from Lockridge Okoth
Share:

Editor's Picks

Zcash Price Forecast: ZEC tests $500 threshold amid risks of a deeper correction

Zcash price hovers around $500 on Friday after five consecutive days of losses, testing a crucial support cluster. The privacy coin holds retail strength, with a positive funding rate despite over $2 million in liquidations over the last 24 hours, suggesting bullish bias persists.

Dogecoin Price Forecast: DOGE eyes $0.065 after breaking key support level

Dogecoin price trades in the red below $0.0700 on Friday, following a 5% drop the previous day. DOGE loses retail strength as broader market speculative demand eases with elevated tensions between the US and Iran. The technical outlook for DOGE points to deeper losses below $0.065.

Cardano Price Forecast: Mixed signals cap ADA recovery

Cardano extends its decline, trading below $0.168 on Friday after facing rejection at the 50-day EMA earlier this week. Mixed derivatives metrics indicate traders' indecision, while neutral momentum indicators suggest ADA lacks a catalyst for a sustained move in either direction. Derivatives data for Cardano show mixed sentiments among traders.

Crypto Market Overview: Bitcoin tests 50-day EMA support – Pi Network and Sky lead losses
The broader cryptocurrency market faces headwinds with rising tensions between the US and Iran, pushing Bitcoin (BTC) down to its 50-day Exponential Moving Average (EMA) support around $65,135 on Friday. Under pressure, Pi Network (PI) and Sky (SKY) emerge as the worst-performing crypto assets over the last 24 hours.
Bitcoin’s potential recovery in the second half hinges on these 4 catalysts
Bitcoin (BTC) has fallen over 34% in the first half of this year as the King Crypto failed to capitalize on a good semester for risk assets despite the woes from the Iran war.