{"id":182883,"date":"2023-10-24T07:38:58","date_gmt":"2023-10-24T07:38:58","guid":{"rendered":"https:\/\/precoinnews.com\/?p=182883"},"modified":"2023-10-24T07:38:58","modified_gmt":"2023-10-24T07:38:58","slug":"sam-bankman-fried-seeks-expert-to-counter-testimony-from-doj-witnesses","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/sam-bankman-fried-seeks-expert-to-counter-testimony-from-doj-witnesses\/","title":{"rendered":"Sam Bankman-Fried seeks expert to counter testimony from DOJ witnesses"},"content":{"rendered":"

Sam Bankman-Fried\u2019s lawyers are planning to put forward an expert witness to counter testimony from former Alameda Research CEO Caroline Ellison and other witnesses about the extent of financial ties between FTX and the trading firm.<\/p>\n

In an Oct. 23 letter to New York District Judge Lewis Kaplan, Bankman-Fried\u2019s attorneys said Joseph Pimbley from litigation consulting firm PF2 Securities would testify on behalf of the former FTX CEO.<\/p>\n

The letter lays out that Pimbley will testify \u2014 based on FTX database information \u2014 that Alameda\u2019s line of credit with FTX \u201cfluctuated between approximately $1 billion and $3 billion\u201d between October 2021 and September 2022 and decreased in June 2022, which has the goal of establishing a definitive timeline for the line of credit.<\/p>\n

Pimbley will also testify that the majority of balances for non-FTX and non-Alameda users are in United States dollars, Bitcoin (BTC), Ether (ETH) and Tether (USDT), and over 75% of non-FTX and Alameda user balances \u201carise from accounts that have spot margin enabled, spot margin lending enabled, or show futures activity,\u201d which could provide context to testimony made by former FTX executives.<\/p>\n

<\/p>\n

The testimony is also set to rebuff a testimony by Ellison, FTX co-founder Gary Wang, former FTX engineering director Nishad Singh and former FTX employee Adam Yedidia regarding Alameda\u2019s line of credit and FTX customer use of margin trading.<\/p>\n

Pimbley is set to counter Ellison\u2019s testimony that Alameda had \u201can essentially unlimited line of credit on FTX\u201d and Wang\u2019s testimony that the firm had borrowed \u201caround $3 billion\u201d from the credit line.<\/p>\n

Related: <\/em><\/strong>FTX creditor claims breach the 50c mark as buyers see light at the end of the tunnel<\/em><\/strong><\/p>\n

Pimbley\u2019s 54-page disclosure details various charts, spreadsheet excerpts, diagrams and database queries pulled from FTX\u2019s Amazon Web Services database that relate to FTX\u2019s line of credit with Alameda between October 2021 and November 2022.<\/p>\n

Pimbley is being remunerated at a rate of $720 an hour plus expenses for his work, but he said he has \u201cno financial interest in the outcome of this case.\u201d<\/p>\n

He was one of seven expert witnesses earlier put forward by Bankman-Fried\u2019s legal team, which Judge Kaplan barred from testifying but allowed future testimony if they were to respond to government witness testimony and clarify their claims.<\/p>\n

Magazine: <\/em><\/strong>Web3 Gamer: \u2018Ethical\u2019 SBF game axed, Web3 games sign-up process sucks, Tomb Chaser<\/em><\/strong><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Sam Bankman-Fried\u2019s lawyers are planning to put<\/p>\n","protected":false},"author":3,"featured_media":182881,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nSam Bankman-Fried seeks expert to counter testimony from DOJ witnesses - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/sam-bankman-fried-seeks-expert-to-counter-testimony-from-doj-witnesses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sam Bankman-Fried seeks expert to counter testimony from DOJ witnesses - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Sam Bankman-Fried\u2019s lawyers are planning to put\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/sam-bankman-fried-seeks-expert-to-counter-testimony-from-doj-witnesses\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-24T07:38:58+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/10\/Sam-Bankman-Fried-seeks-expert-to-counter-testimony-from-DOJ-witnesses.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/sam-bankman-fried-seeks-expert-to-counter-testimony-from-doj-witnesses\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/sam-bankman-fried-seeks-expert-to-counter-testimony-from-doj-witnesses\/\",\"name\":\"Sam Bankman-Fried seeks expert to counter testimony from DOJ witnesses - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2023-10-24T07:38:58+00:00\",\"dateModified\":\"2023-10-24T07:38:58+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/crypto\/sam-bankman-fried-seeks-expert-to-counter-testimony-from-doj-witnesses\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/crypto\/sam-bankman-fried-seeks-expert-to-counter-testimony-from-doj-witnesses\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/sam-bankman-fried-seeks-expert-to-counter-testimony-from-doj-witnesses\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Crypto\",\"item\":\"https:\/\/precoinnews.com\/category\/crypto\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Sam Bankman-Fried seeks expert to counter testimony from DOJ witnesses\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/precoinnews.com\/#website\",\"url\":\"https:\/\/precoinnews.com\/\",\"name\":\"Pre Coin News\",\"description\":\"precoinnews.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/precoinnews.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"mediabest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"caption\":\"mediabest\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Sam Bankman-Fried seeks expert to counter testimony from DOJ witnesses - Pre Coin News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/precoinnews.com\/crypto\/sam-bankman-fried-seeks-expert-to-counter-testimony-from-doj-witnesses\/","og_locale":"en_US","og_type":"article","og_title":"Sam Bankman-Fried seeks expert to counter testimony from DOJ witnesses - Pre Coin News","og_description":"Sam Bankman-Fried\u2019s lawyers are planning to put","og_url":"https:\/\/precoinnews.com\/crypto\/sam-bankman-fried-seeks-expert-to-counter-testimony-from-doj-witnesses\/","og_site_name":"Pre Coin News","article_published_time":"2023-10-24T07:38:58+00:00","author":"mediabest","twitter_card":"summary_large_image","twitter_image":"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/10\/Sam-Bankman-Fried-seeks-expert-to-counter-testimony-from-DOJ-witnesses.jpg","twitter_misc":{"Written by":"mediabest","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/precoinnews.com\/crypto\/sam-bankman-fried-seeks-expert-to-counter-testimony-from-doj-witnesses\/","url":"https:\/\/precoinnews.com\/crypto\/sam-bankman-fried-seeks-expert-to-counter-testimony-from-doj-witnesses\/","name":"Sam Bankman-Fried seeks expert to counter testimony from DOJ witnesses - Pre Coin News","isPartOf":{"@id":"https:\/\/precoinnews.com\/#website"},"datePublished":"2023-10-24T07:38:58+00:00","dateModified":"2023-10-24T07:38:58+00:00","author":{"@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/precoinnews.com\/crypto\/sam-bankman-fried-seeks-expert-to-counter-testimony-from-doj-witnesses\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/precoinnews.com\/crypto\/sam-bankman-fried-seeks-expert-to-counter-testimony-from-doj-witnesses\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/precoinnews.com\/crypto\/sam-bankman-fried-seeks-expert-to-counter-testimony-from-doj-witnesses\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/precoinnews.com\/"},{"@type":"ListItem","position":2,"name":"Crypto","item":"https:\/\/precoinnews.com\/category\/crypto\/"},{"@type":"ListItem","position":3,"name":"Sam Bankman-Fried seeks expert to counter testimony from DOJ witnesses"}]},{"@type":"WebSite","@id":"https:\/\/precoinnews.com\/#website","url":"https:\/\/precoinnews.com\/","name":"Pre Coin News","description":"precoinnews.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/precoinnews.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"mediabest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","caption":"mediabest"}}]}},"_links":{"self":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/182883"}],"collection":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/comments?post=182883"}],"version-history":[{"count":0,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/182883\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media\/182881"}],"wp:attachment":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media?parent=182883"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/categories?post=182883"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/tags?post=182883"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}