--- title: "Ukrainian Man Who Lost Everything in FTX Scheduled to Confront Sam Bankman-Fried" description: "It looks like former FTX CEO Sam Bankman-Fried is doomed to come to face-to-face with some ghosts of the crypto exchange's destructive past." date: "2023-10-03" modified: "2023-10-03" authors: - name: "Maggie Harrison Dupré" job_title: "Senior Staff Writer" link: "https://futurism.com/authors/mharrison" url: "https://futurism.com/the-byte/ukrainian-man-ftx-sam-bankman-fried" categories: - "Blockchain" - "Future Society" tags: - "ftx" - "ftx trial" - "sam bankman-fried" - "the digest" --- # Ukrainian Man Who Lost Everything in FTX Scheduled to Confront Sam Bankman-Fried ![It looks like former FTX CEO Sam Bankman-Fried is doomed to come to face-to-face with some ghosts of the crypto exchange's destructive past.]() *\Image: Michael M. Santiago via Getty / Futurism\* ## The Wronged It looks like former FTX CEO Sam Bankman-Fried is doomed to come to face-to-face with some ghosts of the crypto exchange's destructive past. The disgraced crypto founder, who has been [behind bars]() for [several weeks]() while awaiting his impending criminal trial, is due in court tomorrow to face a slew of fraud-related charges brought by the US government in the wake of the crypto exchange's collapse into bankruptcy. And as [*Fortune* reports](), on the eve of the trial, the prosecution and the defense are still battling over who might take the stand; the court has reportedly denied several of the defense's proposed witnesses, while the prosecution has been busy adding a number of allegedly defrauded former users to its roster. Those new witnesses, according to *Fortune*, range from everyday retail investors to larger corporate interests who, per court filings, deposited money into FTX under the "expectation and understanding that FTX would custody their assets separate from those of the company, would not transfer customer assets to Alameda Research, and would not use their assets for FTX's or Alameda's own expenses." **A**mong these star witnesses, according to *Fortune*, is a young Ukranian man who apparently lost nearly all of his life's savings in the crypto exchange's crash — shortly after Russia's war on Ukraine began. ## Back and Forth Bankman-Fried's camp has unsurprisingly opposed the appearance of the Ukrainian witness — who would be speaking to the court via video call, as Ukrainian law prevents the young man from leaving the nation amid the ongoing war — given how affecting his testimony could prove to be. The human cost of the war has been vast, and losing a major portion of your savings while an illegal invasion of your country further [decimates its economy]() is a nightmarish scenario. It would likely be hard for SBF to come out on the other side of that testimony looking like the "[altruist]()" he once promised to be. But the prosecution, according to *Fortune*, has argued in court documents that the appearance of an international investor is essential for the jury's understanding of the true breadth of FTX's "international popularity." And even if the opposition to the Ukrainian witness is granted, the prosecution still appears to have some star witnesses up its sleeve. Per *Fortune*, former FTX executives who pled guilty — a group that includes former Alameda Research CEO and ex-girlfriend to SBF [Caroline Ellison]() — could take to the stand. In any case, at the end of the day, only one thing's for sure: this trial is bound to be a blockbuster. **More on FTX:** [*Sam Bankman-Fried Complains That the Wi-Fi Is Bad in Jail*]() ## Author At Futurism, I've reported extensively on the rise of AI as a cultural and business force shaping the media industry, and more broadly how those dynamics are changing how we all consume and share information and relate to one another. I'm also fascinated by public health policy and ethics, the role of emerging tech in politics and governance — and the powerful people and forces at those intersections — climate change, and the environment. My investigation on Sports Illustrated's use of AI-generated authors with fictional biographies won a 2024 Mirror Award for "Best Story on Media Coverage of Artificial Intelligence in Journalism and the Media" from Syracuse University's SI Newhouse School, I contributed to Niemen Lab's 2025 Predictions for Journalism series, and I've discussed my work for Futurism during appearances on NPR, CNN, the BBC, the CBC, and more. I grew up in rural Pennsylvania and attended the University of Massachusetts Amherst, where I played Division I field hockey for the Minutewomen as a midfielder. Since then, I've lived in New Orleans, Louisiana and Manhattan, New York. I spend my free time running, reading, perusing archival fashion, and searching for the world’s best negroni. I also have a debonair tuxedo cat, Westley, who's named after "The Princess Bride." ### Author social links [Bluesky]()