US prosecutor intervenes in FTX-linked case, suggests resolution without trial

Jay Clayton, the interim US Attorney for the Southern District of New York (SDNY) and former SEC chair, has intervened in the criminal case involving Michelle Bond, who is linked to FTX through her husband, former FTX Digital Markets co-CEO Ryan.

Clayton requested a seven-day exclusion under the Speedy Trial Act to allow prosecutors and defense lawyers to discuss a potential resolution of the case without proceeding to trial. This move aims to facilitate discovery review, potential motion practice, and settlement discussions, potentially ending the case without a trial.

Michelle Bond was indicted on campaign finance charges related to her 2022 US House of Representatives campaign. Her defense argues that at least one charge should be dismissed based on a verbal agreement from prosecutors not to investigate her as part of a plea deal.

This intervention is notable as one of the few times Clayton has actively engaged in a crypto-related criminal case since becoming interim US Attorney in April 2025. He is authorized to serve in this role until August 20, 2025, without Senate confirmation.

Separately, in another FTX-related development, prosecutors have decided not to pursue a second trial against FTX founder Sam Bankman-Fried on additional charges, citing duplication of evidence and the public interest in a prompt resolution. This decision marks a significant step toward concluding major US legal proceedings related to the FTX scandal.

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