Sam Bankman-Fried’s temporary release request denied as trial date looms
Former FTX boss Sam Bankman-Fried is likely remain behind bars until his Oct. 3 trial commences after a United States District Court judge denied his request for temporary release.
On Sept. 12, District Judge Lewis Kaplan denied Bankman-Fried’s claim that his trial preparation was hindered due to poor internet access in prison finding it wasn’t a sufficient ground to grant his release.
“The defendant had not made any detailed showing as to specific material that he claims he has been unable to access personally and the reasons why any such personal inability actually would impede his defense,” Kaplan explained.
Kaplan added Bankman-Fried’s lawyers can provide him with material to review on a hard drive to circumvent a potentially unreliable internet connection.
“There has been no suggestion that counsel is incapable of running any searches across the Relativity or AWS databases that defendant may desire and then providing him with the results.”
Bankman-Fried’s counsel previously complained about the prison’s poor internet connection in a Sept. 8 letter, explaining they would often need to wait up to 10 minutes for a website homepage to load.
Related: Sam Bankman-Fried appeal against bail revocation ‘meritless’: Prosecutors
Bankman-Fried had a chance to request for the Oct. 3 trial date to be postponed but no request was made, Kaplan noted.
The former FTX CEO faces 12 criminal charges across two separate trials, with the second slated to commence on March 11, 2024. Bankman-Fried has pleaded not guilty to all counts.
Magazine: Deposit risk: What do crypto exchanges really do with your money?
Sir Keir Starmer and Emmanuel Macron’s migrant deal comes into force today, with detentions set to begin by the end of the week.
The “one in, one out” pilot scheme – which allows the UK to send some people who have crossed the Channel back to France in exchange for asylum seekers with ties to Britain – was signed last week, and has now been approved by the European Commission.
Politics Hub: Follow live updates
It comes as 2025 is on course to be a record year for crossings.
Approximately 25,436 people have already made the journey this year, according to PA news agency analysis of Home Office figures – 49% higher than at the same point in 2024.
The prime minister and the French president hailed the deal as a “good agreement” when it was first announced during the latter’s visit to the UK last month.
The scheme also means that anyone arriving in a small boat can be detained immediately, with space set aside at immigration removal centres in anticipation of their arrival.
Sir Keir said the ratification of the treaty will “send a clear message – if you come here illegally on a small boat you will face being sent back to France”.
Ministers have so far declined to say how many people could be returned under the deal, however, there have been reports that under the scheme only 50 people a week will be returned to France.
Analysis: Deal will need to go much further to work
Sky News political correspondent Rob Powell said while it was a “policy win” for the government, the numbers must eventually “go a lot higher” than 50 per week if it is to work as a deterrent.
“The average crossing rate is about 800 a week, so this will need to go up by a sizeable factor for that message to start seeping through to people trying to make that crossing,” Powell added.
The aim will be to make asylum seekers believe the “risk of going back to France is so big that they shouldn’t bother parting with their cash and paying smugglers” to make the crossing.
Read more:
What is the UK-France migrant returns deal?
Clampdown on social media ads for Channel crossings unveiled
Migrants in Dunkirk, France, preparing to cross the English Channel.
The Conservatives have branded the agreement a “surrender deal” and said it will make “no difference whatsoever”.
Under the terms of the agreement, adults arriving on small boats will face being returned to France if their asylum claim is inadmissible.
In exchange, the same number of people will be able to come to the UK on a new legal route, provided they have not attempted a crossing before and subject to stringent documentation and security checks.
The pilot scheme is set to run until June 2026, pending a longer-term agreement.
Home Secretary Yvette Cooper will face questions on the agreement on Sky News Breakfast this morning.
US Representative Dina Titus asked the CFTC to investigate Brian Quintenz, US President Donald Trump’s pick to run the agency, over his ties to Kalshi.
The CFTC is seeking feedback on how to more effectively regulate spot crypto trading as it moves to implement recommendations from the Trump administration.
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