Sam Bankman-Fried surrenders Caroline Ellison’s personal writings to court Sam Bankman-Fried surrenders Caroline Ellison’s personal writings to court
The ex-CEO's lawyer requested that the documents remain under seal.
2 min read
Updated: Jul. 28, 2023 at 10:58 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Sam Bankman-Fried’s legal team has provided the court with documents previously shown to news reporters, according to a July 27 filing.
Bankman-Fried, who served as the CEO of FTX until its collapse, recently communicated with The New York Times. He provided the news outlet with the private documents of Caroline Ellison, formerly the CEO of FTX’s sister company Alameda Research. The New York Times published a story on the subject on July 20.
The latest filing indicates that Bankman-Fried’s lawyers have now provided the court and the U.S. government with copies of the documents seen by The New York Times.
Bankman-Fried’s lawyer, Mark Cohen, asked for the newly filed documents to remain sealed. Cohen wrote that the presumption of access, a legal principle allowing the public to see relevant documents, is “greatly outweighed by the need to avoid their public dissemination.” Cohen cited an earlier legal case to that end.
Reporters object to document sealing
That request has already seen backlash. Inner City Press — a news organization dedicated primarily to court cases in the Southern District of New York — has objected.
The group argued that Bankman-Fried’s request to seal the documents is “internally inconsistent,” as he has already provided those documents to one news outlet. Inner City Press cited a previous case between Donald Trump and Deutsche Bank AG, which said that press members must be heard on their exclusion from court hearings and have a right to request the unsealing of court documents.
It also criticized other apparent leniencies in the case, including the prosecutors’ decision to withdraw campaign financing charges against Bankman-Fried.
Ellison’s close relationship with Bankman-Fried and her expected role as a star witness in his upcoming October trial means that information related to the two individuals is of great interest to all parties — including the public, press, government, and court.
Bankman-Fried’s decision to speak to reporters has led the court to impose a gag order, while prosecutors have asked him to be imprisoned to prevent further disclosures. In addition to potentially affecting case developments, public availability of the documents could significantly impact coverage in the months leading up to the trial.
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Mike Dalton
Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada's West Coast.
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FTX
FTX is a defunct cryptocurrency exchange, currently in bankruptcy proceedings, that was founded by Sam Bankman-Fried and Zixiao “Gary” Wang in May 2019.
Alameda Research
Alameda Research was once a principal trading firm, operating as an arm of the failed crypto exchange, FTX.
Caroline Ellison is the former lead trader and former CEO at Alameda Research.
Sam Bankman-Fried is the former CEO, and co-founder of defunct crypto exchange FTX and Alameda Research.