Sam Bankman-Fried trial begins with jury selected

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Sam Bankman-Fried trial begins with jury selected

Today marks the beginning of Sam Bankman-Fried's criminal trial--and it's all happening at New York's U.S. Southern District courthouse on Pearl Street, where my colleague Ben Weiss will be spending the day.

Opening arguments won't begin until tomorrow, but today a crew of New Yorkers will be selected to compose the jury and ultimately decide the fate of the startup industry's now-disgraced crypto founder, Bankman-Fried.

The trial is expected to go on for the next six weeks or so, with trial dates scheduled until at least Nov. 9, according to the case calendar attached to the docket last week. Lewis A. Kaplan, a federal judge, was appointed to the district court in 1994 by President Bill Clinton, and has just recently presided over the civil case between author E. Jean Carroll and former President Donald Trump.

Bankman-Fried is charged with fraud and money laundering over his FTX Crypto Exchange empire, which was backed by Sequoia Capital, Insight Partners, and SoftBank, and was valued at a whopping $40 billion across both its U.S. and international operations. Bankman-Fried has pleaded not guilty to all charges.

As we wait for the trail to begin, my colleague Weiss has the details on the key players we can expect to see throughout the course of the trial, including Bankman-Fried's attorneys, Mark Cohen and Christian Everdell, who are both former federal prosecutors and have represented the likes of Jeffrey Epstein associate Ghislaine Maxwell. Four of Bankman-Fried's close colleagues, who accepted plea deals and are working with the government, will likely testify in coming weeks.

In other SBF news...Michael Lewis' new book on Bankman-Fried and the FTX empire hits bookshelves today. An excerpt of the book, Going Infinite, was published in the Washington Post yesterday, which you can read here. I'm going to grab a copy and give it a review at some point in the near future.

Twitter: @jessicakmathews

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The online bank, Albo, is based in Mexico City, Mexico, and has raised $40 million in Series C funding. Morpheus Ventures led the round and was joined by Valar Ventures, Greyhound Capital, Mountain Nazca, Flourish Ventures, and others.

Farther, a wealth management firm based in New York City, raised $31 million in Series B funding. Lightspeed Venture Partners led the charge, along with Bessemer Venture Partners, Cota Capital, Khosla Ventures, MassMutual Ventures, and Moneta Venture Capital.

Unitary, a London, U.K.-based firm that creates AI models that can analyze and interpret videos to detect harmful content, raised $15 million for Series A funding. The group was led by Paladin Capital Group and Plural, which were joined by Creandum.

Bonsai Robotics, a San Jose, Calif.-based company that creates farming vehicles that can autonomously traverse difficult terrain, raised $13.5 million in seed funding. The round was organized by Acre Venture Partners and was joined by E14, Congruent, Serra Ventures, Fall Line Capital, SNR Ventures, and angel investors.

Granular Energy, a platform in Paris, France based in Paris, provides software to manage and trade clean energy for utility and energy firms, raised €7.5 million in funding. Norrsken VC led the round and was joined by All Iron Ventures, Box Group, Valo Ventures, and existing investors Seedcamp, Revent, and Powerhouse Ventures.

MeetingPackage, a platform developed by Espoo, Finland, that enables hotels and other venues to sell, operate, and manage their bookings on one platform, raised $4.6 million for Series A funding. Scale Capital led the round and was joined by others.

Humata AI, an AI platform in Austin, Texas, has raised $3.5 million in seed funding from Gradient Ventures, ARK Invest, M13, and others.

Muir AI, a Seattle, Wash.-based firm that uses AI to monitor emissions data and provide sustainability insights for companies, has raised $3.25 million in seed funding. Base10 Partners took part in the event, which was joined by Madrona Venture Labs, Soma Capital, and others.

Imperial Dade, supported by Advent International, acquired The Janton Company and G&L Supply, a Columbus and Mansfield, Ohio-based distributor of janitorial products. The financial terms of the deal were not disclosed.

Slate Capital Group, backed by Tombari Structural Products, acquired O'Donnell Metal Deck, a manufacturer of steel products such as metal decking for roofs and floors. Financial terms were not disclosed.

Prime AE, backed by NewHold, acquired Jacobi, Toombs, and Lanz, a New Albany, Ind.-based firm that provides engineering, survey, and constructing services to clients in transportation, water resources, and infrastructure surveying fields. Financial terms were not disclosed.

RedBird IMI has acquired a minority stake in Front Office Sports, a New York City-based sports news and media platform. The financial terms were not disclosed.

BioPharma Solutions, a Bloomington, Ind., was acquired by Advent International and Warburg Pincus. Germany-based pharmaceuticals company Baxter International Inc. said it would buy Halle/Westfalen, Germany-based, from Baxter International for $4.25 billion in cash.

TPG acquired Forcepoint Global Governments and Critical Infrastructure, an Austin, Texas-based platform that aims to provide secure access to data and intellectual property on any device. Financial details were not disclosed.

Discount Tire acquired Dunn Tire, a auto maintenance company and car parts provider in Buffalo, N.Y. The financial terms of the transaction were not disclosed.

Birkenstock, a footwear company in Linz am Rhein, Germany, plans to raise up to $1.6 billion in an offering of 32.3 million shares - or about half a billion dollars - between $44 and $49. L Catterton backs the company.

Quinbrook Infrastructure Partners, a Houston, Texas and London, U.K. investment firm, raised £620 million in its third fund, focused on companies that are aiding the transition to renewable energy.