Lawyers representing former FTX CEO Sam Bankman-Fried, or SBF, have reportedly not asked for a different trial date in order to prepare, but a federal judge has offered a limited window to do so.
According to an Aug. 30 thread on X (formerly Twitter) from Inner City Press, Judge Lewis Kaplan said the deadline for requesting a jury based on Bankman-Fried’s trial start date was Sept. 7. SBF’s lawyers reportedly said they “chose an aggressive date” in which the former FTX CEO would have the opportunity to clear his name but did not entirely rule out requesting more time to prepare as a result of alleged issues with access to discovery materials.
“If the defendant feels he needs a postponement, they can ask for it,” said Kaplan, according to the thread. “I’m not saying I would necessarily grant it. They’d have to demonstrate a need — not just recount the number of documents. There’s got to be more meat on those bones.”
OK – now US v. Bankman-Fried, oral argument about SBF’s complaints about discovery documents, strength of Internet during his twice-weekly courthouse visits, & desire to get back out to Palo Alto. Inner City Press (book Crypto Creeps) will live tweet, thread below https://t.co/uUXBcLMej9pic.twitter.com/Fo1BxIWdsC
The Aug. 30 hearing focused on motions from SBF’s lawyers requesting temporary release for the former FTX CEO in order to prepare for his Oct. 3 criminal trial. Kaplan revoked Bankman-Fried’s bail on Aug. 11, leading to his remand at the Metropolitan Detention Center in Brooklyn. His legal team has argued the lack of consistent access to the internet and documents related to his case was inadequate for trial preparation.
“[Bankman-Fried] is able to review discovery 70 hours a week,” reportedly said Assistant U.S. Attorney Danielle Sassoon. “Counsel can visit him 7 days a week. This is not a pro se defendant — he has many lawyers and experts, who prepare around the clock.”
Kaplan said he would accept motions from SBF’s defense team and prosecutors by Sept. 1 and rule on them by the following week — Sept. 4, Labor Day, is a national holiday in the United States. These filings included Bankman-Fried’s defense strategy of arguing he largely acted “in good faith” on advice of previous counsel in regard to his alleged actions at FTX and Alameda Research.
Bankman-Fried faces 12 criminal charges, which will be spread across two trials scheduled to begin on Oct. 2, 2023 and March 11, 2024. He has pleaded not guilty to all counts.
The UK will be forced to agree this month to increase defence spending to 3.5% of national income within a decade as part of a NATO push to rearm and keep the US on side, Sky News understands.
The certainty of a major policy shift means there is bemusement in the Ministry of Defence (MoD) about why Sir Keir Starmer‘s government has tied itself in knots over whether to describe an earlier plan to hit 3% of GDP by the 2030s as an ambition or a commitment, when it is about to change.
The problem is seen as political, with the prime minister needing to balance warfare against welfare – more money for bombs and bullets or for winter fuel payments and childcare.
Image: Prime Minister Sir Keir Starmer during a visit to a military base training Ukrainian troops in April. File pic: PA
Sir Keir is due to hold a discussion to decide on the defence spending target as early as today, it is understood.
As well as a rise in pure defence spending to 3.5% by 2035, he will also likely be forced to commit a further 1.5% of GDP to defence-related areas such as spy agencies and infrastructure. Militaries need roads, railway networks, and airports to deploy at speed.
This would bolster total broader defence spending to 5% – a target Mark Rutte, the head of NATO, wants all allies to sign up to at a major summit in the Netherlands later this month.
It is being referred to as the “Hague investment plan”.
Asked what would happen at the summit, a defence source said: “3.5% without a doubt.”
Yet the prime minister reiterated the 3% ambition when he published a major defence review on Monday that placed “NATO first” at the heart of UK defence policy.
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1:46
What’s in the UK Strategic Defence Review?
The defence source said: “How can you have a defence review that says NATO first” and then be among the last of the alliance’s 32 member states – along with countries like Spain – to back this new goal?
Unlike Madrid, London presents itself as the leading European nation in the alliance.
A British commander is always the deputy supreme allied commander in Europe – the second most senior operational military officer – under an American commander, while the UK’s nuclear weapons are committed to defending the whole of NATO.
Even Germany, which has a track record of weak defence spending despite boasting the largest economy, has recently signalled it plans to move investment towards the 5% level, while Canada, also previously feeble, is making similar noises.
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2:37
Is the UK battle ready?
The source signalled it was inconceivable the UK would not follow suit and said officials across Whitehall understand the spending target will rise to 3.5%.
The source said it would be met by 2035, so three years later than the timeline Mr Rutte has proposed.
Defence spending is currently at 2.3%.
A second defence source said the UK has to commit to this spending target, “or else we can no longer call ourselves a leader within NATO”.
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Sky News’s political editor Beth Rigby challenged the prime minister on the discrepancy between his spending ambitions and those of his allies at a press conference on Monday.
Sir Keir seemed to hint change might be coming.
“Of course, there are discussions about what the contribution should be going into the NATO conference in two or three weeks’ time,” he said.
“But that conference is much more about what sort of NATO will be capable of being as effective in the future as it’s been in the last 80 years. It is a vital conversation that we do need to have, and we are right at the heart of that.”
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New Sky News podcast launches on 10 June – The Wargame simulates an attack by Russia to test UK defences
Mr Rutte, a former Dutch prime minister, said last week he assumes alliance members will agree to a broad defence spending target of 5% of gross domestic product during the summit in The Hague on 24 and 25 June.
NATO can only act if all member states agree.
“Let’s say that this 5%, but I will not say what is the individual breakup, but it will be considerably north of 3% when it comes to the hard spend [on defence], and it will be also a target on defence-related spending,” the secretary general said.
The call for more funding comes at a time when allies are warning of growing threats from Russia, Iran, and North Korea as well as challenges posed by China.
But it also comes as European member states need to make NATO membership seem like a good deal for Donald Trump.
The leaders of all allies will meet in The Hague for the two-day summit.
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The US president has repeatedly criticised other member states for failing to meet a current target of spending 2% of national income on defence and has warned the United States would not come to the aid of any nation that is falling short.
Since returning to the White House, he has called for European countries to allocate 5% of their GDP to defence. This is more than the 3.4% of GDP currently spent by the US.
Mr Rutte is being credited with squaring away a new deal with Mr Trump in a meeting that would see allies increase their defence spending in line with the US president’s wishes.
The NATO chief is due to visit London on Monday, it is understood.
Texas Representative Brandon Gill faces scrutiny after filing late disclosures for $500,000 in Bitcoin trades, as questions over timing and STOCK Act violations arise.