Judge Kaplan Rejects SBF’s FTX Evidence Request

Sam Bankman-Fried’s New Solvency Evidence Request Rejected

Former FTX CEO Sam Bankman-Fried’s new motion request, presented with new evidence to prove the company was financially solvent at the time of its bankruptcy, was politely rejected by U.S. District Judge Lewis Kaplan. In an order issued Tuesday in the Southern District of New York court, Kaplan described the evidence as “baseless” and ruled on it himself despite Bankman-Fried’s recusal request. Although the defense tried to convince the court with arguments emphasizing FTX’s solvency, the judge found the claims insufficient. Bankman-Fried withdrew this motion last week, stating he could not get a fair hearing from Kaplan. The appeals process is still ongoing.

Judge Kaplan’s Criticism of ‘Wild Conspiracy Theories’

In the original motion filed in February, Bankman-Fried accused the Department of Justice of withholding information; he highlighted the testimonies of Ryan Salame and Daniel Chapsky, arguing that both were too afraid to testify. FTX Digital Markets co-CEO Salame pleaded guilty in 2024 and was sentenced to 90 months in prison. Chapsky was referred to as FTX’s former head of data science. In response, Kaplan emphasized that Bankman-Fried could have compelled or requested these testimonies but took no steps to do so. The judge dismissed the defense claims as “wild conspiracy theories” and noted they contradicted the record. Bankman-Fried also conducted interviews with figures like Michael Lewis and Tucker Carlson to garner public support; Kaplan criticized these as “repeated old stories.”

FTX Case and FTT Token Technical Analysis

Bankman-Fried was found guilty on all seven counts in November 2023 before a New York jury for defrauding FTX customers, lenders, and investors; he received a 25-year prison sentence. Prosecutors described the crime as one of the largest frauds of the past decade, comparing it to Bernie Madoff; entities like Alameda Research were at the center of FTX. Bankman-Fried, who hoped for a pardon from Trump, lost hope after the president’s rejection. This development was also echoed on the FTT detailed analysis page. Current FTT price at $0.29 level, 24-hour change -%1.40. RSI 46.66 neutral, overall trend downward and Supertrend bearish signal. EMA 20: $0.2950. Supports: S1 $0.2863 (strong, %71 score), S2 $0.2638. Resistances: R1 $0.2928 (strong, %81 score), R2 $0.3186. Investors should be cautious with FTT futures.

Legal Accountability Lessons in the Crypto Sector

This decision once again demonstrates how rigorously legal accountability processes operate in the crypto sector; hopes for new evidence are diminishing for similar entrepreneurs. Following the FTX scandal, tokens like FTT continue to remain volatile.