Lawyers representing former FTX CEO Sam Bankman-Fried, or SBF, have claimed the “extraordinary accommodations” offered by authorities were insufficient in order for him to prepare for his criminal trial in October.
In an Aug. 25 filing in United States District Court for the Southern District of New York, SBF’s legal team said the plan proposed by prosecutors to allow the former FTX CEO access to discovery materials before trial were inadequate. Lawyers said the U.S. Justice Department produced roughly 4 million pages worth of discovery materials on Aug. 24 and there were “millions of pages of documents and terabytes of data” left for SBF to review for his criminal trial.
“We do not believe that anything short of temporary release will properly address these problems and safeguard Mr. Bankman-Fried’s right to participate in his own defense,” said the filing. “Before his bail was revoked, Mr. Bankman-Fried was spending 80-100 hours a week reviewing the voluminous discovery and creating detailed analyses that he could update constantly and share with his attorneys.”
Bankman-Fried had been free on a $250-million bond for roughly 8 months following his extradition from the Bahamas and arraignment in the U.S. in December 2022. However, following allegations of witness intimidation of former Alameda Research CEO Caroline Ellison, a federal judge revoked his bail. Since Aug. 11, roughly two months before the start of his first criminal trial, SBF has been remanded to the Metropolitan Detention Center in Brooklyn.
Since his bail was revoked, SBF’s legal team has been pushing for fewer restrictions allowing him time outside jail in order to prepare for trial. A judge ruled on Aug. 21 that SBF be allowed roughly seven hours in the New York courthouse cell block attorney room on Aug. 22, and later issued an order giving him access to the same space with one laptop and wifi-enabled device on a seemingly unlimited basis provided his lawyers gave 48 hours’ notice.
“Mr. Bankman-Fried needs constant access to an internet-enabled computer that allows him to review documents from discovery, look up relevant context for the evidence online, draft and edit work product analyzing the documents and data, and share these documents and analyses with his attorneys,” claimed his legal team. “The Government’s current plan […] comes nowhere close to this.”
SBF’s first of two trials is scheduled to begin on Oct. 3, in which he will face seven charges related to fraudulent activities involving user funds at FTX and Alameda Research. The second trial, scheduled for March 2024, will include five other criminal charges.
According to court filings, Bankman-Fried’s legal team may pursue a defense claiming the former CEO acted “in good faith” on advice of lawyers from Fenwick & West and FTX’s in-house counsel. These allegedly illegal actions included SBF directing that certain communications between FTX and Alameda employees be automatically deleted.
One year on, how’s Keir Starmer’s government going? We’ve put together an end-of-term report with the help of pollster YouGov.
First, here are the government’s approval ratings – drifting downwards.
It didn’t start particularly high. There has never been a honeymoon.
But here is the big change. Last year’s Labour voters now disapprove of their own government. That wasn’t true at the start – but is now.
And remember, it’s easier to keep your existing voter coalition together than to get new ones from elsewhere.
So we have looked at where voters who backed Labour last year have gone now.
YouGov’s last mega poll shows half of Labour voters last year – 51% – say they would vote for them again if an election was held tomorrow.
Around one in five (19%) say they don’t know who they’d vote for – or wouldn’t vote.
But Labour are also leaking votes to the Lib Dems, Greens and Reform.
These are the main reasons why.
A sense that Labour haven’t delivered on their promises is top – just above the cost of living. Some 22% say they’ve been too right-wing, with a similar number saying Labour have “made no difference”. Immigration and public services are also up there.
Now, YouGov asked people whether they think the cabinet is doing a good or a bad job, and combined the two figures together to get a net score.
Here’s one scenario – 2024 Labour voters say they would much prefer a Labour-led government over a Conservative one.
But what about a Reform UK-led government? Well, Labour polls even better against them – just 11% of people who voted Labour in 2024 want to see them enter Number 10.
Signs of hope for Keir Starmer. But as Labour MPs head off for their summer holidays, few of their voters would give this government an A*.
Sir Keir Starmer’s plan to recognise Palestine as a state has been attacked as “appeasement towards jihadist terrorists” by Israeli Prime Minister Benjamin Netanyahu.
The prime minister said the UK will recognise a Palestinian state by September unless Israel takes “substantive steps” to end the situation in Gaza, Israel agrees to a ceasefire, commits to a long-term sustainable peace, allows the UN to restart aid supplies and does not annexe the West Bank.
About 250 MPs from all parties – half of them Labour – had signed a letter last week calling for Sir Keir to immediately recognise a Palestinian state.
Sir Keir said that by giving Israel a deadline of 9 September UN meeting, he hoped this would play a part “in changing the conditions on the ground, and making sure aid gets into making sure that there is hope of a two-state solution for the future”.
But Mr Netanyahu condemned the plan, saying Sir Keir “rewards Hamas’s monstrous terrorism and punishes its victims”.
“A jihadist state on Israel’s border today will threaten Britain tomorrow,” he wrote on X.
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“Appeasement towards jihadist terrorists always fails. It will fail you too. It will not happen.”
The Israelis also accused Sir Keir of pandering to his MPs and France, after Emmanuel Macron committed to recognising a Palestinian state last week, and harming efforts to release Israeli hostages.
Image: Benjamin Netanyahu was effusive in his condemnation
Lib Dems and Greens: ‘Bargaining chip’
Sir Keir also faced accusations of using Palestinian state recognition as a “bargaining chip” by both the Lib Dems and the Green Party.
Lib Dem leader Sir Ed Davey said a Palestinian state should have been recognised “months ago” and “far greater action” is needed to stop the humanitarian disaster in Gaza.
Image: Jordanian military personnel prepare planes to deliver airdrops in Gaza on Monday
Green Party foreign affairs spokesperson Ellie Chowns, who wants immediate state recognition, said it was a “cynical political gesture”.
Humza Yousaf, Scotland’s former SNP first minister, who revealed a family member was killed in Gaza days ago, told Sky News statehood “shouldn’t be dependent” upon the conditions Sir Keir has set for Israel, but is the “inalienable right” of the Palestinian people.
The British Palestinian Committee, representing Palestinian interests in the UK, described conditions as “absurd and performative”.
Image: Palestinians wait to receive food from a charity kitchen, amid a hunger crisis in Gaza City. Pic: Reuters
UK Jewish groups seek clarity
The Board of Deputies of British Jews, the UK’s largest Jewish organisation, said it was “seeking urgent clarification” that the UK will not recognise Palestine as a state if Israeli hostages remain in Hamas captivity, or if Hamas keeps rejecting a ceasefire deal.
The Labour Friends of Israel group said it has “shared goals” with the government but state recognition “will be a merely symbolic act unless the UK uses its influence to establish the principles of a meaningful pathway to a Palestinian state”.
Sarah Champion, Labour MP and chair of the international development committee, who started the MP letter calling for state recognition, said she was “delighted and relieved”.
However, she added: “I’m troubled our recognition appears conditional on Israel’s actions.”
When Foreign Secretary David Lammy announced the plan at a UN meeting, he received applause.
Not many other Labour MPs commented.
Tories accuse Starmer of appeasing MPs
Conservative leader Kemi Badenoch accused Sir Keir of being more focused on a “political problem for the Labour Party” than other issues facing the UK.
“Recognising a Palestinian state won’t bring the hostages home, won’t end the war and won’t get aid into Gaza,” she posted on X.
“This is political posturing at its very worst.”
Tory shadow foreign secretary Priti Patel said the announcement was “to appease his backbenchers” as “he knows that promises to recognise Palestine will not secure lasting peace”.
Image: Aid trucks were allowed into Gaza on Tuesday. Pic: Reuters
Trump did not discuss statehood with Starmer
Donald Trump said he and Sir Keir “never did discuss” the PM’s plan to recognise a Palestinian state during their meetings in Scotland the day before.
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Trump responds to Sky question on Israel
However, Tammy Bruce, spokeswoman for the US state department, said Sir Keir’s plan is a “slap in the face for the victims of October 7”, which “rewards Hamas”, the Telegraph reported.
Gary Neville has criticised the government’s national insurance (NI) rise this year, saying it could deter companies from employing people and “probably could have been held back”.
The former Manchester United and England footballer-turned business owner, who vocally supported Labour at the last election, employs hundreds of people.
But he expressed his frustration at the recent hike on employers’ NI, which has significantly increased the taxes businesses have to pay for their employees.
Speaking to Sky News’ Business Live, Neville said: “I honestly don’t believe that, to be fair, companies and small businesses should be deterred from employing people. So, I think the national insurance rise was one that I feel probably could have been held back, particularly in terms of the way in which the economy was.”
While the Sky Sports pundit thought the minimum wage increase introduced at the same time was necessary to ensure that people are paid a fair wage and looked after, he made it clear the double whammy for businesses at the start of April would be a challenge for many companies big and small.
“I mean look it’s been a tough economy now for a good few years and I did think that once there was a change of government, and once there was some stability, that we would get something settling,” he said. “But it’s not settling locally in our country, but it is not settling actually, to be fair, in many places in the world either.
“I don’t think we can ever criticise the government for increasing the minimum wage. I honestly believe that people, to be fair, should be paid more so I don’t think that’s something that you can be critical of. I do think that the national insurance rise, though, was a challenge.”
Neville’s business interests are diverse, spanning property development, hospitality, media, and sports.
He co-founded GG Hospitality, which owns Hotel Football and the Stock Exchange Hotel, and is involved in Relentless Developments, focusing on building projects in the North West. He is also a co-founder of Buzz 16, a production company, and a partner in The Consello Group, a financial services company.
The tax increase is expected to raise £25bn for the Treasury, with employers having to pay NI at 15% on salaries above £5,000, and up to 13.8% on salaries above £9,100.
The rise has already led the Bank of England to warn that it is contributing to a job market slowdown.
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NI and tariffs pile pressure on firms
Governor Andrew Bailey warned last month that “the labour market has been very tight in the past few years, but we are now seeing signs that conditions are easing, employment growth is subdued, and several indicators of labour demand and hiring intentions have softened”.
The government has defended the tax increase, announced by Rachel Reeves in last year’s budget and implemented in April, arguing that the money was needed to pay for public services like the NHS to help bring down waiting lists.
‘Can’t get any worse’ for Man Utd
Neville conceded that turning beleaguered football club Manchester United around could prove more difficult than trying to bring about substantial economic growth.
The side finished 15th last season – its worst performance in the history of the Premier League.
“Yeah, that could be a bigger challenge than the economy… I think the two signings are good signings yet, there’s a couple more needed,” Neville said of his former club’s fortunes.
“I think they need a goalkeeper. And I think if they fill those two positions with decent signings, then United can have a lot, I mean, they have to have a better season than last year. It can’t get any worse, really.”