United States District Judge Kevin Castel has approved the Justice Department’s request to stay the civil lawsuits filed by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) against Sam Bankman-Fried (SBF), the founder and former CEO of bankrupt crypto exchange FTX.

According to a Reuters report, prosecutors believe delaying the lawsuits makes sense as the criminal case’s outcome could affect the civil cases.

A stay is an order by a court to temporarily or indefinitely stop legal proceedings or the trial of a case. The court may lift the stay order at a time deemed fit to continue the litigation.

(By Mandy Williams)

Get the latest news here: Cointime channel — https://t.me/cointime_en