Sam Bankman-Fried dismisses conflict-of-interest concerns after changing lawyers
The change in legal representation was formalized in a court appearance on Feb. 21, the first since Bankman-Fried's conviction in 2023.
Sam Bankman-Fried , the embattled founder of the now-defunct crypto exchange FTX , has replaced his legal team as he approaches the critical sentencing phase of his trial.
The change in legal representation was formalized in a court appearance on Feb. 21, the first since Bankman-Fried’s conviction. The move comes as the former billionaire prepares for his sentencing in late March following a conviction on seven counts of fraud and conspiracy.
Observers noted a marked change in Bankman-Fried’s demeanor and appearance during his recent court appearance. Gone was the casual attire of his earlier trial days, replaced by the somber reality of a prison jumpsuit and shackles, signaling the gravity of his situation.
No conflict of interest
Mukasey, who also represents the former Celsius CEO Alex Mashinsky , was appointed as Bankman-Fried’s lead defense attorney. This prompted prosecutors to request a Curcio hearing to ensure there were no issues stemming from both parties hiring the same legal team.
The court session took place in the US District Court for the Southern District of New York, where Judge Lewis A. Kaplan inquired about potential conflicts of interest due to Mukasey’s representation of other figures in the crypto sector.
The judge highlighted that this could lead to a potential conflict of interest due to Celsius’ previous dealings with FTX and Alameda Research , both of which went bankrupt. Celsius notably identified Alameda Research as a $13 million creditor in its bankruptcy case.
However, Bankman-Fried chose to waive the conflict-of-interest concerns and confirmed his decision to proceed with Mukasey as his attorney. He also confirmed that his previous trial lawyers, Mark Cohen and Christian Everdell, would no longer be part of the proceedings.
Mashinsky is also fine with lawyers
Mashinsky has also addressed the potential legal conflicts arising from sharing the same attorney as Bankman-Fried.
During a separate court appearance, Mashinsky stated he had no objections to Mukasey leading both trials as his case is set to start weeks after Bankman-Fried’s is expected to conclude. He similarly waived any concerns around a potential conflict of interest.
By waiving these concerns, Mashinsky facilitated a smoother legal path forward for both his and Bankman-Fried’s cases, acknowledging the professional capacity of Mukasey to manage the representation of both clients without prejudice.
The waiver also highlights the legal intricacies faced by figures in the crypto sector, where overlapping business and legal entanglements frequently emerge.
Mentioned in this article
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn
- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

OPEN has dropped by 189.51% within 24 hours during a significant market pullback
- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

New spot margin trading pair — LINEA/USDT!
Bitget Live Trading Competition: Share 20,000+ USDT Prize Pool
Trending news
MoreCrypto prices
More








