court case

SBF lawyers to pay for technical expert to aid judge on bail terms

The judge overseeing Sam Bankman-Fried’s fraud case wants some help navigating the world of encrypted messaging, privacy apps, and virtual private networks.

Attorneys working on behalf of former FTX CEO Sam Bankman-Fried have agreed to pay for a security expert to assist the federal judge overseeing his fraud case in navigating modern encryption technology to aid in possibly modifying Bankman-Fried’s bail terms.

Bankman-Fried lawyers Christian Everdell and Mark Cohen sent a letter to Judge Lewis Kaplan on Feb. 21 agreeing with his proposal for a technical professional to aid him.

According to the letter, “the defense has already begun researching and contacting possible experts and anticipates being able to propose one or more potential candidates to the court by the end of the week.”

Judge Kaplan suggested at a bail hearing last week following a tightening of bail terms when it was discovered that Bankman-Fried had been accessing the internet using a VPN (virtual private network).

A VPN obscures and encrypts a user’s internet traffic and is often used to change internet (IP) addresses, to add a layer of security to communications or to access censored content in autocratic regimes.

The judge has been trying to achieve a balance between letting Bankman-Fried access communication channels to prepare his defense and the potential misuse of messaging apps and privacy software.

Judge Kaplan temporarily banned Bankman-Fried from using a VPN or any encrypted messaging apps until his bail terms are settled.

Related: Sam Bankman-Fried may no longer be allowed to play League of Legends

The technical expert will help the judge navigate issues regarding encrypted messages, privacy-focused messaging apps and VPNs.

Bankman-Fried and his attorneys claim he used the VPN on two occasions, to watch the NFL playoffs on Jan. 29 and to watch the Super Bowl on Feb. 12.

Prosecutors have asked for strict bail terms limiting Bankman-Fried’s access to the internet and messaging platforms. They also alleged that VPN use “raised several potential concerns” regarding thepotential access of crypto platforms that have blocked United States users.

Ripple’s allies expand: Coinbase files amicus brief in fight against SEC

Crypto exchange Coinbase has filed documentation asking permission to help Ripple Labs in its ongoing legal battle with the SEC.

United States-based crypto exchange Coinbase has become the latest organization to stand behind Ripple Labs in its legal battle against the Securities and Exchange Commission (SEC), which could wrap up as soon as the first half of 2023.

Paul Grewal, Coinbase’s chief legal officer in a series of tweets on Oct. 31 said the exchange had asked the presiding judge for permission to file an amicus brief, saying the case was a “textbook” definition of “just how critical fair notice is.”

An amicus brief, known as a “friend of the court,” is a legal document containing advice or information relating to a court case from an organization or individual that is not directly involved in the case.

Grewal added that a fundamental protection under the U.S. Constitution is that authorities can’t “condemn conduct as a violation of law without providing fair notice that the conduct is illegal.”

“By suing sellers of XRP tokens after making public statements signaling that those transactions were lawful, the SEC has lost sight of this bedrock principle,” he added.

If approved, Coinbase will join the ranks of the non-profit organization Investor Choice Advocates Network and crypto mobile app SpendTheBits which were granted permission to file amicus briefs in October.

Related: ‘Well worth the fight’ — Ripple counsel confirms Hinman docs are in their hands

The filing also comes on the same day cryptocurrency lawyer John Deaton filed a motion seeking permission to submit an amicus brief on behalf of the XRP “decentralized community.”

It also follows days after crypto advocacy group the Blockchain Association also announced its support for Ripple on Oct. 28 by announcing it had filed its ow amicus brief, noting that SEC chairman Gary Gensler’s views on securities laws could have “devastating effects” on the space.

Ripple Labs has been caught up in a nearly two-year-long legal saga with the SEC that regards the sale of its Ripple (XRP) tokens as unregistered securities sales.

Ripple CEO Brad Garlinghouse on an Oct. 11 panel at DC Fintech Week said he thinks the case could be wrapped up by the half of 2023 but admitted it would be hard to predict an exact end date.

Ripple’s allies expand: Coinbase files amicus brief in fight against SEC

Crypto exchange Coinbase has filed documentation asking permission to help Ripple Labs in its ongoing legal battle with the SEC.

United States-based crypto exchange Coinbase has become the latest organization to stand behind Ripple Labs in its legal battle against the Securities and Exchange Commission (SEC), which could wrap up as soon as the first half of 2023.

Coinbase’s chief legal officer, Paul Grewal, said in a series of tweets on Oct. 31 that the exchange had asked the presiding judge for permission to file an amicus brief, saying the case was a “textbook” definition of “just how critical fair notice is.”

An amicus brief, known as a “friend of the court,” is a legal document containing advice or information relating to a court case from an organization or individual that is not directly involved in the case.

Grewal added that a fundamental protection under the U.S. Constitution is that authorities can’t “condemn conduct as a violation of law without providing fair notice that the conduct is illegal.”

“By suing sellers of XRP tokens after making public statements signaling that those transactions were lawful, the SEC has lost sight of this bedrock principle,” he added.

If approved, Coinbase will join the ranks of the non-profit organization Investor Choice Advocates Network and crypto mobile app SpendTheBits which were granted permission to file amicus briefs in October.

Related: ‘Well worth the fight’ — Ripple counsel confirms Hinman docs are in their hands

The filing also comes on the same day cryptocurrency lawyer John Deaton filed a motion seeking permission to submit an amicus brief on behalf of the XRP “decentralized community,” along with briefs submitted by crypto advocacy body the Crypto Council for Innovation and venture capital firm Valhil Capital.

It also follows days after crypto advocacy group the Blockchain Association also announced its support for Ripple on Oct. 28 by announcing it had filed its own amicus brief, noting that SEC chairman Gary Gensler’s views on securities laws could have “devastating effects” on the space.

Ripple Labs has been caught up in a nearly two-year-long legal saga with the SEC that regards the sale of its XRP (XRP) tokens as unregistered securities sales.

Ripple CEO Brad Garlinghouse on an Oct. 11 panel at DC Fintech Week said he thinks the case could be wrapped up by the half of 2023 but admitted it would be hard to predict an exact end date.

Update (Nov. 1, 5:55 am UTC): Added information regarding further amicus briefs submitted supporting Ripple Labs.