The Government Steps In

On September 27, the United States government made it clear that it is not rolling out the welcome mat for Sam Bankman-Fried (SBF) as he seeks a temporary reprieve from his jail cell before his trial kicks off on October 3. The government filed a letter opposing SBF’s motion, submitted just two days earlier, where he claimed he’d be unable to “meaningfully participate” in his own defense.

Concerns Galore

In its filing, the government argued that SBF’s so-called challenges of participating in his trial don’t stack up against the “danger” he poses to the community and potential flight risks. They reiterated that these aren’t just vague fears; they’re based on SBF’s history of conduct that raises eyebrows. The suggestion of releasing him would thus be like handing a toddler dynamite—confusing and incredibly risky.

History Repeating Itself

The government pointed out that this isn’t the first time SBF has tried to escape the cold embrace of confinement. Back on September 12, Judge Kaplan denied his earlier request for immediate release. At that time, numerous factors played into the decision, including SBF’s significant access to electronic discovery materials leading up to his bail revocation. They asked, what more could he possibly need to defend himself when he had months to prep?

A Second Denial

The plot thickened when, just a week later on September 21, a three-judge panel from the United States Court of Appeals for the Second Circuit also nixed SBF’s plea for freedom, branding his arguments as “unpersuasive.” Not one to back down easily, the prosecution highlighted that even this esteemed panel found probable cause suggesting that SBF had tried to tamper with two witnesses. So much for a peaceful defense!

What Lies Ahead?

Looking forward, SBF’s criminal trial in bustling New York City is set to begin on October 3, with seven fraud-related charges stemming from his time in the spotlight with FTX and Alameda Research. If he manages to dodge those, he’s not off the hook just yet—another five counts await him in a separate trial in March 2024. For now, SBF maintains a not-guilty stance on all counts, but with the government firmly opposing his release, it’s clear his days of freedom are still on the ‘to-do’ list for another time.

Mark This Moment

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