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Sam Bankman-Fried Fights Subpoena for Remote Deposition

2 mins
Updated by Kyle Baird
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In Brief

  • Lawyers for Sam Bankman-Fried are opposing a subpoena that would require the former FTX CEO to take part in a remote deposition.
  • They say that the subpoena wasn’t properly served and that it may require invoking the Fifth Amendment.
  • FTX executive Nishad Singh recently entered a plea deal, adding to the list of executives doing so.
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Lawyers for Sam Bankman-Fried oppose a subpoena that would require the former FTX CEO to participate in a remote deposition. They are asking a federal judge to block the subpoena.

There’s more news about Sam Bankman-Fried coming in, with the former FTX CEO reportedly fighting calls for his testimony in the Voyager Digital bankruptcy case. Lawyers speaking on behalf of creditors have delivered a subpoena that would ask for Bankman-Fried’s testimony. However, his own lawyers are asking a federal judge to block the subpoena.

Voyager Digital’s bankruptcy case has begun in New York, and the subpoena asks that Bankman-Fried testifies on Feb. 23 in San Francisco. According to the filing, the authorities handed the subpoena to Bankman-Fried’s mother in California.

The stated reasons for blocking the subpoena are the fact that the subpoena wasn’t properly served, that it may require Bankman-Fried to invoke the Fifth Amendment to circumvent incrimination, and that it is unreasonable.

The subpoena is just one of many dramatic events involving Bankman-Fried, who went from the poster child of the crypto market to one of its most vilified individuals. He has his own legal matters to struggle through, with the FTX case no doubt set to receive a lot of attention.

Subpoenas Aplenty for Sam Bankman-Fried

The subpoena was filed on Feb. 18 in the United States Bankruptcy Court for the Southern District of New York. It specifically called for a remote deposition and that he provide the requested documents and communications on Feb. 20.

Earlier this month, Voyager’s lawyers served a subpoena to former FTX CEO Alameda CEO Caroline Ellison, FTX co-founder Gary Wang, and FTX’s head of product Ramnic Arora, requesting that they provide certain information. The recent subpoena requires them to provide additional information.

FTX Japan Resumes Withdrawals

Meanwhile, there continue to be updates in the whole FTX saga. Customers of the exchange in Japan became the first to benefit from resumed withdrawals on Feb. 21.

As for Bankman-Fried’s political donations, Democratic lawmakers have stated they would return 2.2% of the total $45.2 million donated. Bankman-Fried became known for making donations to these candidates and having discussions with lawmakers.

Other FTX executives have entered plea deals. Most recently, this was Nishad Singh, who was part of the inner circle at FTX.

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Rahul Nambiampurath
Rahul Nambiampurath's cryptocurrency journey first began in 2014 when he stumbled upon Satoshi's Bitcoin whitepaper. With a bachelor's degree in Commerce and an MBA in Finance from Sikkim Manipal University, he was among the few that first recognized the sheer untapped potential of decentralized technologies. Since then, he has helped DeFi platforms like Balancer and Sidus Heroes — a web3 metaverse — as well as CEXs like Bitso (Mexico's biggest) and Overbit to reach new heights with his...