Share this article

Sam Bankman-Fried’s Lawyers Given Green Light for Unlimited Prison Visits

The FTX founder's lawyers will visit him in prison to prepare their defense after a judge denied Bankman-Fried’s request to have daily meetings at his lawyers’ Manhattan office.

Updated Aug 24, 2023, 3:46 p.m. Published Aug 24, 2023, 11:25 a.m.
jwp-player-placeholder

A federal judge granted Sam Bankman-Fried’s lawyers permission to meet their client in prison after revoking the FTX founder’s bail just weeks before his trial, an order issued Wednesday shows.

According to the order, Bankman-Fried’s lawyers “can take unlimited advantage of the legal visitation hours” at the Metropolitan Detention Center (MDC) in Brooklyn, New York to prepare their client for a weeks-long trial slated to begin Oct. 3. Bankman-Fried will have “frequent access” to a computer to review discovery materials, and can request “selected materials” be loaded onto hard drives for his viewing, the judge said in the order.

STORY CONTINUES BELOW
Don't miss another story.Subscribe to the State of Crypto Newsletter today. See all newsletters

The order also references other accommodations made by the Bureau of Prisons in New York, but these were redacted in a letter filed by prosecutors last week.

Judge Lewis Kaplan’s concessions fell short of the defense’s requests that Bankman-Fried be released for daily hours-long meetings at his lawyers’ office in Manhattan or transferred to a lower-security prison in Putnam County, two hours north of New York City.

Bankman-Fried landed in a high-security prison two weeks ago after the case’s judge ruled the former executive repeatedly violated his bail conditions by attempting to contact witnesses slated to testify against him. The crypto kingpin was chastised by prosecutors for using a virtual private network (VPN) to speak to one of his former executives earlier this year. Months later, he faced similar rebuke for allegedly leaking former Alameda Research CEO Caroline Ellison’s diary entries to the New York Times in what prosecutors said was an attempt to intimidate Ellison.

More For You

KuCoin Hits Record Market Share as 2025 Volumes Outpace Crypto Market

16:9 Image

KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.

What to know:

  • KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
  • This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
  • Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
  • Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
  • Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.

More For You

Iran accepts cryptocurrency as payment for advanced weapons

Iran flag (Akbar Nemati/Unsplash, modified by CoinDesk)

Prospective customers could purchase weapons such as missiles, tanks and drones using crypto, according to a government website.

What to know:

  • Iran's Ministry of Defence Export Center is accepting cryptocurrency payments for advanced weapons systems as a means of bypassing international sanctions that the country faces.
  • The offer is among the first known instances of a country accepting cryptocurrency as a means of payment for military equipment, according to the Financial Times.
  • The facility for using cryptocurrency to pay for transactions involving sanctioned countries is already well established.