TechFlow news: During Sam Bankman-Fried's (SBF) trial, defense attorney Mark Cohen rebutted the government's allegations. He argued that the government's core case rests on a flawed premise—that FTX was fraudulent from the beginning—yet the evidence does not support this view.
Cohen asserted that SBF built two multibillion-dollar "legitimate, functional, innovative businesses" in the new world of cryptocurrency. He repeatedly emphasized that SBF, as CEO, made reasonable business decisions, despite FTX lacking a risk management team.
He urged the jury to use common sense, stating that poor business judgment does not equate to criminal conduct, and that the government's entrapment theory fails under scrutiny in certain aspects.
Cohen stressed that if the jury finds SBF acted in good faith regarding all charges, then he must be found entirely not guilty.
In his closing argument, Cohen stated the government has failed to provide a sufficient and rational explanation for SBF's actions.
The trial is now entering its final phase. Tomorrow, the prosecution will deliver its rebuttal, after which the jury will begin deliberations.
