The trial of former FTX CEO Sam Bankman-Fried is set to officially begin this upcoming Tuesday. The high-profile case, which has been ongoing for months, is expected to be one of the most closely watched “tech crusader” cases of the current era.
Bankman-Fried is accused of leading an aggressive media campaign to disrupt the cryptocurrency industry and “undermine the integrity” of an industry he felt was under threat. He is also accused of demoralizing rival businesses by undercutting them on their fees.
The case pits Bankman-Fried against several of the biggest names in crypto, including industry heavyweights such as Coinbase, Gemini, and Kraken. The accused’s defense team maintains that he was simply attempting to create an efficient marketplace where everyone could benefit by getting the best deal.
Notably, the trial will be conducted as a bench trial, which means that a judge, and not a jury, will be hearing the case and weaponizing a verdict. This is in stark contrast to the typical criminal trials which generally involve a jury of the accused’s peers.
Undoubtedly the trial of Sam Bankman-Fried is the most closely watched case of the recent crypto-world. The implications it could have on the entire industry is far reaching and will be highly visible. As the trial is slated to begin this Tuesday, the verdict of which could mean a great deal to the future of cryptocurrency and the blockchain industry.