The SBF courtroom circus

Hi everyone, it’s Ellen in San Francisco. For the past couple weeks, the hottest ticket in tech has been an in-person spot to watch the Sam [View in browser]( [Bloomberg]( Hi everyone, it’s Ellen in San Francisco. For the past couple weeks, the hottest ticket in tech has been an in-person spot to watch the Sam Bankman-Fried trial. But first… Three things you need to know today: • The EU added Meta and TikTok to its [Israel war probe]( • Bank of America [cut Peloton’s stock rating]( • Bezos-backed trucking startup [Convoy shut down]( Set your alarm If you want to see Sam Bankman-Fried in the flesh while he’s on trial, be prepared to show up outside the Manhattan federal courthouse long before the sun rises. [The trial](, in which the fallen crypto king faces seven counts of fraud and money laundering charges, is one of the highest-profile finance and technology trials of the year. But due to federal courthouse rules, the only way to see it is to be there in person. The proceedings are held in a setting that’s almost unimaginable in today’s digitally connected world: no phones, no laptops, no photos, no recording (hence the hand-drawn portraits of testimony). All spectators are required to turn over their phones at the door. Some mornings, the line starts hours before the court opens. A big group of attendees are reporters at major publications. But the drama has also attracted a coterie of SBF watchers, people die-hard enough — or with flexible-enough schedules — to spend a day without their phones to get a glimpse of the proceedings. Convicted fraudster Martin Shkreli, who was released from federal prison last year, popped by for the trial’s opening arguments. Coffeezilla, a crypto YouTuber named Stephen Findeisen, came by to watch some of the testimony from Bankman-Fried’s former deputy and ex-girlfriend Caroline Ellison. Other trial observers included a crypto podcaster, a couple people who said they had ties to Effective Altruism organizations (Bankman-Fried, back when he had lots of wealth to give away, was a major donor affiliated with the Effective Altruism movement) and a gaggle of New York-based tech workers and crypto fanatics who were between jobs or otherwise free during the day. Tiffany Fong, a crypto content creator, has been coming almost every single day. She said the courthouse was the most packed so far for [testimony from Ellison](. The trial-watching process quickly builds a sense of camaraderie, she said. After passing security and surrendering devices, attendees are directed to a roped-off holding area, where they stand around and chitchat for sometimes more than an hour. (No phones to hide behind.) At some point, a person beckons the first 20 or so in line into the actual courtroom, while the rest are herded into an overflow room with chairs and TV monitors. Though the main courtroom has some viewing advantages, the overflow room is more convivial, Fong said. The crowd chuckles when the judge makes a particularly funny joke or whispers in confusion during bizarre moments, like when Ellison was asked to point to Bankman-Fried in the courtroom and was apparently unable to spot him for an awkwardly long period of time. Fong said it reminded her of being in grade school: “You’re coming back every day, seeing familiar faces, almost like in a classroom, watching the clock and waiting for lunch.” The trial is set to continue for weeks. Bankman-Fried hasn’t testified yet, but if he decides to, anyone who wants to watch should probably plan to set an alarm for 3 a.m. and pack a snack for the line. It’s going to be long. —[Ellen Huet](mailto:ehuet4@bloomberg.net) The big story The Israel-Hamas war is causing companies to speak up, but [internal communications show dissent](. Get fully charged The FCC voted to reinstate broadband rules and reestablish its [authority to police internet operators]( for any attempt to block traffic. The EU’s crackdown on Google Android helped a Russian search engine [rise in popularity and spread propaganda](. Google will manufacture the Pixel phone [in India starting next year](. In the months before FTX collapsed, the crypto exchange was [sending emails to customers]( promising money was safe. More from Bloomberg New: [Sign up for the Business of Sports newsletter](, delivering the context you need on the collision of power, money and sports, from the latest deals to the newest stakeholders. 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