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Law professor David Mills, who defended FTX ’s Sam Bankman-Fried in his high-profile Crypto fraud trial earlier this year, has claimed that his friendship with the disgraced former CEO’s parents may not survive the case. He has also suggested that Bankman-Fried, who was found guilty of seven fraud and conspiracy charges in November, may be “at the very top of the list as the worst person I’ve ever seen do a cross-examination.” As reported by Bloomberg, Mills, out of loyalty to the FTX chief’s parents, agreed to fight Bankman-Fried’s corner in December 2022. He also told them that he would “see this through for you and do my best.” However, the legal veteran claimed that he believed the case to be virtually unwinnable from the get-go . He pointed specifically to pre-trial rulings by US District Judge Lewis Kaplan, and the fact that Bankman-Fried would be up against three strong prosecution witnesses, namely Alameda CEO Caroline Ellison, FTX co-founder Gary Wang, and ...

The New York South District court revoked former FTX CEO Sam Bankman-Fried’s bail on Aug. 11 after an appeal from the prosecution in July citing multiple instances of violation of bail conditions. The United States Attorney’s Office has filed an affirmation of the denial of bail to former FTX CEO Sam “SBF” Bankman-Fried, claiming that he could attempt witness tampering and stating that no release conditions would assure the safety of the witnesses. Prosecutors responded to several claims made in his appeal against the bail revocation , calling it “meritless.” In their response, the prosecutors argued that SBF was found to have twice committed or attempted witness tampering in violation of the court orders. Thus, in light of his continued evasions of his pre-trial release conditions, Bankman-Fried was unlikely to abide by the conditions of release. The first time SBF attempted to contact witnesses came to light in January earlier this year, when the former FTX CEO initiated contact w...

Lawyers representing SBF have agreed to a gag order preventing him from making comments that could sway his criminal trial but says it should apply to other witnesses too. Former FTX CEO Sam Bankman-Fried has agreed to a “gag order” which will prevent him from making comments to third parties that may interfere with his trial — but argues it should apply to all potential witnesses as well, including current FTX CEO John Ray. The gag order against Sam Bankman-Fried was initially requested on July 20, when the U.S. government accused the FTX founder of attempting to interfere with a fair trial by publicly discrediting former business partner and witness Caroline Ellison in an interview with the  New York Times. In a July 22 letter to United States District Court Judge Lewis A. Kaplan of New York, Bankman-Fried’s lawyers Cohen & Gresser LLP denied the accusations but agreed to accept a gag order as requested. A gag order is a legal order often issued by a court to restrict informa...

Troubled cross-chain protocol Multichain reported on Wednesday that its chief Zhaojun is missing , adding to rumors that its top executives have been arrested in China. According to Multichain, Zhaojun had sole access to servers that have experienced technical problems over the past week which led to delays across multiple cross-chain bridges. The instability of the protocol and concerns that locked assets may be compromised has sparked a major sell-off of the project’s token , MULTI. Multichain had $1.5 billion in total value locked (TVL). As previously reported by Protos, Multichain was formerly known as Anyswap. The protocol was hacked in 2021, leading to a rebrand. If it were to be compromised again, bridged token s would become worthless, leaving dependent blockchains like Fantom vulnerable. In response to the news, Binance suspended deposits for 10 bridged tokens on May 25. Fantom Foundation removed $2.4 million in MULTI from liquidity via SushiSwap. Several large holders ...