The ongoing saga of the FTX bankruptcy and disgraced former CEO Sam Bankman-Fried (SBF) has taken a new turn.
Last month, US District Judge Lewis Kaplan imposed a severe communications ban on SBF, which was requested by prosecutors who feared he would influence witnesses.
However, today it appears that prosecutors have given ground and allowed SBF to reopen his communication channels.
SBF’s defense team, led by Mark Cohen, has negotiated a new arrangement that will enable SBF to communicate with current and former FTX employees, as well as family and friends, as long as he complies with a non-contact order.
In exchange, SBF has agreed to be banned from engaging in cryptocurrency and to restrict his personal finances until his October trial.
He is not allowed to enter into any transactions above $1,000, except to pay Cohen’s legal fees. The agreement also stipulates that some individuals will be exempt from the non-contact order, though their identities remain unknown.
With this new arrangement, SBF’s communications will no longer be restricted, although the ongoing FTX bankruptcy saga continues.
