FTX's Bankman-Fried Faces Trial Amidst Opposition to Remote Testimony

The federal judge overseeing the case of Sam Bankman-Fried, the CEO of FTX, has ruled that he cannot blame FTX's lawyers for the company's collapse or operations in his opening statements. However, Bankman-Fried's defense team can still attempt an "advice-of-counsel" defense later, as long as they provide sufficient notice to the judge and the Department of Justice. The defense team had planned to argue that both in-house FTX attorneys and external lawyers were involved in certain decisions made by the company, but the judge deemed the lack of specifics confusing and potentially prejudicial to the jury. Bankman-Fried's trial is set to begin on October 3rd.