FTX’s Defense Challenges Fiduciary Relationship Claim in Unusual Legal Move

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Sam Bankman-Fried’s defense team has filed a request to include jury instructions that consider the influence of English law on FTX’s terms of service. They argue that FTX did not have a fiduciary relationship with its customers based on the fact that the company’s terms of service are governed by English law. The defense cites legal precedents that show English courts are reluctant to infer the existence of a trust without explicit provisions. They also argue that contractual relationships take precedence over fiduciary relationships. The defense claims that the terms of service do not establish a fiduciary relationship between FTX and its customers, as they lack the necessary legal language and even disclaim any such relationship.

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