TechFlow news: In two documents filed on Saturday, the U.S. Department of Justice confirmed that federal prosecutors intend to call former FTX customers, investors, and employees as witnesses in the upcoming trial of former cryptocurrency executive Sam Bankman-Fried. Customers and investors who held FTX stock could testify about their expectations regarding how FTX would safeguard their funds, while cooperating witnesses could provide testimony on their interactions with the defendant and their understanding of the purposes behind certain statements and actions made by the defendant.
A second letter stated that customer witnesses would likely spend no more than 30 minutes on the stand each and would involve minimal exhibits. The U.S. Department of Justice identified former FTX Chief Technology Officer Gary Wang, former FTX Engineering Lead Nishad Singh, and former Alameda Research CEO Caroline Ellison as three cooperating witnesses, all of whom have pleaded guilty to charges related to the exchange and will testify at trial.
Another former FTX executive, Ryan Salame, has also pleaded guilty but had not, as of several weeks ago, agreed to testify. The Department of Justice also plans to call at least two additional witnesses under grants of immunity, though their identities have not yet been publicly disclosed.
