Sam Bankman-Fried Changes Legal Team Ahead of Sentencing

Sam Bankman-Fried, once a leading figure in the cryptocurrency industry, has opted to change his legal team as he approaches his sentencing. This strategic move follows his conviction on charges of fraud and conspiracy, opening a new chapter in his ongoing legal saga.

In his latest court appearance, the first since the verdict, Bankman-Fried announced he would no longer be represented by Mark Cohen and Christian Everdell. Instead, Marc Mukasey, known for representing Alex Mashinsky of the bankrupt crypto lender Celsius, will take over. This decision marks a significant shift in Bankman-Fried’s defense strategy as he prepares for the next steps in his case.

The transition was highlighted during a session at the U.S. District Court for the Southern District of New York, with Judge Lewis A. Kaplan examining the potential conflict of interest. This issue arises from Mukasey’s representation of Mashinsky, given the intertwined legal challenges facing both Mashinsky and Bankman-Fried. Despite these complexities, both individuals have expressed their approval of Mukasey’s dual role.

This legal development occurs as Bankman-Fried faces sentencing for multiple counts of fraud and conspiracy, a situation that underscores the legal entanglements in the crypto world. The link between Bankman-Fried’s FTX, Alameda Research, and Mashinsky’s Celsius, especially after their financial collapses, adds layers to the legal narrative.