Welcome to the SBF trial, a CoinDesk Podcast Network newsletter, bringing you daily insights from inside the courtroom, where Sam Bankman-Freed will try to stay out of prison.

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Sam Bankman-Fried is guilty.

Twelve jurors spent less than five hours deciding the facts.

And yet they quickly decided that Bankman Freed was guilty on all seven counts.

He defrauded FTX's customers and conspired to defraud them.

He defrauded Alameda researchers' lenders and conspired to defraud them. He conspired to defraud

FTX's investors and customers and to conceal the proceeds by laundering funds. The outcome seemed

inevitable. The U.S. Department of Justice had a fully fleshed out case,

while the defense, as we've said for weeks, seemed to struggle. Judge Lewis Kaplan visibly appeared

to lose his patience with the defendant, though he said Thursday he wouldn't share any personal

views on the verdict. I wasn't personally in the courtroom when Bankman-Fried testified,

nor when defense attorney Mark Cohen gave his closing. But my colleagues who were there say that

some of the jurors looked at the clock during the closing argument. Bankman-Freed's inability to

answer certain questions, and I say inability in the sense that if he acknowledged some of

AUSA Danielle Sassoon's questions, he'd open himself to follow-ups, and if he denied them,

he'd open himself to claims of lying. His particular speaking style, trying to answer the question

he hoped he'd be asked, sparked admonitions from the judge. The case isn't over. A sentencing hearing has been

tentatively scheduled for next March. And Bankman-Fried faces another trial on additional charges around

the same time. And as the court prepared to disperse Thursday, defense attorney Cohen asked about

post-trial motions. We'll almost certainly see an appeal. But as I said, this

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