A parade of powerful jurists have gathered over the past three weeks for the criminal trial of Sam Bankman-Fried, the disgraced cryptocurrency mogul. Damian Williams, the top federal prosecutor in Manhattan, sat for hours in the 26th floor courtroom, along with partners from prominent law firms and a former deputy of Robert Mueller III, who served as a special counsel in an investigation into President Donald J. Trump.
Then there is a man who calls himself Taco.
Taco, 39, is a prolific YouTuber with a channel dedicated entirely to crypto. He has become an unlikely star in the crowd of lawyers, reporters and curious observers who line up before sunrise each morning to snag a spot at Mr. Bankman-Fried’s trial in downtown Manhattan. On many days, the streamer smokes a cigar or two before 6 a.m., then logs into a crypto-themed video chat and provides his approximately 5,000 online followers with the latest news on the case.
“Everyone talks about how important crypto is to them,” Taco said. “But then they don’t go to any events.”
Taco declined to reveal his real name, citing privacy concerns. “The government thinks I’m dead,” he explained. But he said he felt compelled to appear “technically like the trial of the century.”
The trial of Mr. Bankman-Fried – on fraud charges related to the collapse of his FTX crypto exchange – has brought two different worlds into a strange collision and a hyper-online horde of crypto obsessives (or “degenerates,” like some of them). call) unleashes himself) into the staid and formal environment of the Federal Court.
As the trial progressed, reporters vied for spots with crypto influencers and online personalities — at least one of whom managed to smuggle a vape pen into the courthouse. Outside the building this week, a lawyer who specializes in working with crypto investors handed out a business card that read “DeFi Defense Lawyer,” a reference to an experimental type of crypto known as decentralized finance. And on the witness stand, FTX executives had to explain jargon like “FUD,” an acronym for “fear, uncertainty and doubt,” that crypto advocates use to dismiss criticism.
In the courtroom, I watched the culture war up close as Caroline Ellison, a top figure in Mr. Bankman-Fried’s business empire, testified last week. To my right was Coffeezilla, a popular YouTuber who makes videos about crypto scams and had traveled from Texas to see Mr. Bankman-Fried in person. Behind him was Tiffany Fong, a crypto influencer who formed an unlikely friendship with the FTX founder after his arrest.
“I kind of think, ‘I don’t know why I’m here,'” Ms. Fong said. “I’m not entirely a part of it and it doesn’t make much sense, but I’m very invested in the case.”
Throughout the entire process, Ms. Fong Approved Videos on X, the platform formerly known as Twitter, with her thoughts on the trial. Sometimes she was joined Carly Reilly, who runs a podcast about non-fungible tokens, the crypto collectibles known as NFTs. An anonymous account calling itself Autism Capital has also provided a steady stream of analysis and conspiratorial speculation about X’s trial.
Many of the legal battles failed to impress Taco.
During Ms. Ellison’s cross-examination last week, Taco leaned over one of the benches and told me that Mr. Bankman-Fried would benefit from a “gentleman’s lawyer” – a lawyer who deals with the issues that crypto traders discuss all night on X
But despite all his crypto experience, Taco didn’t always find it easy to navigate the court records.
He showed up around 5 a.m. the Monday before last, only to learn that the court was closed for a federal holiday. Sometimes he has to be reminded to take off his baseball cap, which is not allowed in the courtroom. And on his first day of trial, he was asked to leave after guards caught him using a smartwatch he had gotten through security. (Electronics are prohibited in the courtroom.)
By the end of Ms. Ellison’s testimony, Taco had mastered the routine – adhering to the judge’s strict ban on eating and drinking in the courtroom. During a break in proceedings, he reached into his back pocket and pulled out a can of Red Bull.
“Gotta go,” he said with a smile and walked out the door.