Explore the latest on SBF's legal struggles, SEBA's promising venture in Hong Kong, and Google Cloud's partnership with El Salvador to digitize the nation.
SBF's Laywers Seek Temporary Prison Release to Review Evidence

SBF's Laywers Seek Temporary Prison Release to Review Evidence

Explore the latest on SBF's legal struggles, SEBA's promising venture in Hong Kong, and Google Cloud's partnership with El Salvador to digitize the nation.

Last update:
Aug 31, 2023
| Issue

Welcome back to Datwallet Daily, your go-to source for the newest crypto developments. In today’s issue, we’ll explore:

SBF’s Laywers seek temporary prison release to review evidence

In a recent development, Sam Bankman-Fried, the former CEO of FTX, finds himself embroiled in a courtroom battle with prosecutors accusing him of witness tampering. Bankman-Fried's lawyers are requesting a postponement of the October 3 trial date, citing issues with their client's limited access to millions of pages of evidence while in jail. Judge Lewis Kaplan of the U.S. District Court in the Southern District of New York gave the defense until Friday to formally ask for a delay but warned it wouldn't be automatically granted.

The legal team argued against the last-minute influx of extensive evidence, which they say their client cannot adequately review due to weak internet connection and limited computer access in prison. The defense also called for Bankman-Fried's temporary release ahead of the trial, highlighting the laptop's limited battery life and lack of a power outlet in the cell block. Judge Kaplan asked for a joint report on the jail conditions by Tuesday morning.

Government prosecutors retorted that the mass of documents primarily came from Bankman-Fried’s own Google accounts, claiming they were only recently obtained due to a "production error." They further argued that there was no indication of bad faith from the government's side. If convicted, Bankman-Fried could face more than a century behind bars over charges that include fraud related to misuse of billions in customer assets. FTX filed for bankruptcy protection last year.

Swiss bank SEBA near crypto approval in Hong Kong

SEBA's branch in Hong Kong, which focuses on cryptocurrencies, has received initial approval from the Securities and Futures Commission (SFC). This Approval-in-Principle (AIP) will enable SEBA Hong Kong to participate in regulated activities within the city. Once officially granted, SEBA will be one of the first licensed entities in Hong Kong to offer crypto investment services.

Amy Yu, CEO of Asia Pacific at SEBA Hong Kong, expressed excitement about the potential for Hong Kong to become a global leader in the crypto market. She stated that SEBA is eager to contribute towards this trajectory. 

Yu further mentioned that they anticipate obtaining their full license by the end of this year. According to her interview with Blockworks, she believes that their regional subsidiary is on track for securing all necessary permissions by Q4 2021.

Google Cloud and the government of El Salvador enter in cooperation

On August 29, Google Cloud revealed a fresh collaboration with the government of El Salvador to establish an office and offer their Google Distributed Cloud (GDC) services within the country. The main objective of this partnership is to digitize El Salvador, enhancing government services as well as improving healthcare and education systems. Additionally, GDC will play a key role in bringing infrastructure closer to the data generation points in El Salvador.

Robinhood ended a crypto-related partnership with Jump Trading

According to an anonymous source cited by CoinDesk, Robinhood and Jump Trading have terminated their long-standing cryptocurrency partnership. CoinDesk also reported that data from the blockchain indicates that the partnership may have concluded in July. Additionally, Bloomberg recently published a report stating that Jump has been reducing its involvement in the U.S. crypto market due to regulatory uncertainties.

Binance launches Send Cash

Binance has introduced a fresh platform that enables the movement of cryptocurrency from Binance Pay in nine countries across Latin America. Dubbed Send Cash, individuals can swiftly transfer their digital funds at a lower expense through authorized service providers, as stated by Binance in an official statement released on Tuesday.

Other breaking news

Wrapping up

That's it for today's Datawallet Newsletter. From SBF's legal woes to SEBA's near approval in Hong Kong and Google Cloud's partnership with El Salvador, the crypto landscape is as dynamic as ever. Robinhood's severed ties with Jump Trading highlight regulatory uncertainties, while Binance's new Send Cash platform signals growth in Latin America. Thank you for trusting us to keep you updated on these pivotal moves in the crypto world.