US DOJ Report on Cryptocurrency Case: Key Developments

sam bankman fried

After Sam Bankman-Fried’s bail was canceled, he’s back in court with Judge Lewis Kaplan presiding. The US Department of Justice (DoJ) has issued a report about the judge’s directives.

Bankman-Fried’s defense team said he should be released from prison to prepare for his defense because his internet connection is weak, and his device’s battery doesn’t last long, making it hard for him to work on his case. Following a recent online hearing, Judge Kaplan asked both sides to submit reports on this issue.

In response to Judge Kaplan’s request, the Department of Justice (DoJ) has clarified the technology available to Bankman-Fried at the Manhattan Detention Center in Brooklyn, New York, where he’s held. According to the report, he has access to a laptop and three external hard drives with defense materials every day. On weekdays, he can use the laptop for 11 hours, and on weekends and holidays, for 7.5 hours. He can also access the external hard drives whenever needed.

The report adds that Bankman-Fried can use a laptop with an internet connection twice a week. Earlier, his lawyers mentioned problems with low battery life and a weak internet connection. However, the report states that he now has a new battery lasting around 8 hours, and the internet speed is between 7.5 to 34 megabits per second (mbps). The DoJ’s report emphasizes that the provided internet connection is sufficient.

After Judge Kaplan revoked his bail in mid-August due to concerns about witness tampering, Bankman-Fried was put in prison. His defense team has appealed this bail cancellation decision, but they are also asking for his temporary release. They argue that being in jail is making it difficult for Bankman-Fried to prepare his defense properly.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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