{"id":172986,"date":"2023-09-28T16:30:30","date_gmt":"2023-09-28T21:30:30","guid":{"rendered":"https:\/\/lifeboat.com\/blog\/2023\/09\/the-ftx-trial-is-bigger-than-sam-bankman-fried"},"modified":"2023-09-28T16:30:30","modified_gmt":"2023-09-28T21:30:30","slug":"the-ftx-trial-is-bigger-than-sam-bankman-fried","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2023\/09\/the-ftx-trial-is-bigger-than-sam-bankman-fried","title":{"rendered":"The FTX trial is bigger than Sam Bankman-Fried"},"content":{"rendered":"

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And potentially very embarrassing for all of crypto.<\/p>\n

The trial of Sam Bankman-Fried is likely to be more consequential than just whether the man himself is found guilty. Depending on what evidence is introduced during the trial, it could be rough for the entire crypto industry.<\/p>\n

\u201cHow much damage can this trial do to the already beaten-down reputation of the industry at this point?\u201d asks Yesha Yadav, a law professor at Vanderbilt University. \u201cThis trial is going to be an excruciating moment for the industry because no one knows what kind of evidence might come out.\u201d<\/p>\n

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\u201cIs he going to throw the entire industry under the bus?\u201d<\/p>\n

Bankman-Fried\u2019s behavior after the fall of FTX suggests he\u2019s something of a wild card. He may suggest he was acting on the advice of his lawyers. But he may also introduce other evidence that could be troublesome \u2014 implying, for instance, that he was engaged in standard industry behavior or that everything that happened was Binance\u2019s fault. That may be risky, but we already know that Bankman-Fried loves risk.<\/p>\n

\u201cIs he going to throw the entire industry under the bus?\u201d Wong asks. \u201cAn idea like, \u2018Everyone was doing this, it\u2019s not fair I\u2019m the only one who was charged?\u2019\u201d That may not fly in a court of law, but it could absolutely damage public perception of crypto at large.<\/p>\n

Continue reading \u201cThe FTX trial is bigger than Sam Bankman-Fried\u201d | ><\/a><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"

And potentially very embarrassing for all of crypto. The trial of Sam Bankman-Fried is likely to be more consequential than just whether the man himself is found guilty. Depending on what evidence is introduced during the trial, it could be rough for the entire crypto industry. \u201cHow much damage can this trial do to the [\u2026]<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1496,1491],"tags":[],"class_list":["post-172986","post","type-post","status-publish","format-standard","hentry","category-law","category-transportation"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/172986","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=172986"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/172986\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=172986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=172986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=172986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}