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What are the grounds for Sam Bankman-Fried's appeal?
Bankman-Fried's appeal is based on claims that the trial judge limited his defense and that he was not presumed innocent during the proceedings. His lawyers argue that the jury was not presented with evidence indicating that FTX was potentially solvent at the time of its collapse.
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What new evidence has emerged regarding FTX's financial status?
The appeal suggests that new evidence points to FTX's potential solvency, contradicting the prosecution's claims of insolvency at the time of the company's collapse. This evidence could significantly impact the case and the perception of Bankman-Fried's actions.
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Who is Caroline Ellison and what role does she play in this case?
Caroline Ellison is a former associate of Bankman-Fried and the CEO of Alameda Research, FTX's trading firm. She has been a key witness in the prosecution's case against him, having pleaded guilty to charges related to the fraud and conspiracy that led to FTX's downfall.
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What are the potential outcomes of the appeal?
The potential outcomes of Bankman-Fried's appeal could range from a retrial to a reduction of his sentence. If the appeal is successful, it may lead to a reevaluation of the evidence and possibly a different verdict.
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When is Caroline Ellison's sentencing?
Caroline Ellison is scheduled to be sentenced on September 24, 2024. Her cooperation with the prosecution has been crucial in building the case against Bankman-Fried, and her sentencing may influence the appeal process.
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How does this appeal affect the cryptocurrency industry?
The outcome of Bankman-Fried's appeal could have significant implications for the cryptocurrency industry, particularly in terms of regulatory scrutiny and investor confidence. A retrial or a successful appeal may set precedents for how similar cases are handled in the future.