Former FTX CEO Sam Bankman-Fried to Give Testimony in Court Today: What Will He Say?

cryptonews.com:

Sam Bankman-Fried, the disgraced founder of crypto exchange FTX, is set to testify in court today.

During a teleconference on Wednesday, Bankman-Fried’s lawyer Mark Cohen confirmed that his client will take the stand on Thursday, according to a report by The Associated Press.

It is expected that his testimony will span the entire day, with cross-examination scheduled for Friday.

Bankman-Fried’s decision to testify comes after weeks of speculation and uncertainty surrounding his involvement in the trial.

Analysts have been divided on whether he would choose to testify, with some suggesting that if he did, it would likely take several days to complete.

The defense team has faced obstacles leading up to the trial, particularly in securing certain witnesses.

Judge Kaplan denied all seven expert witnesses proposed by Bankman-Fried, although he did leave the possibility open for four of them to be called as rebuttals to government witnesses.

Additionally, several of Bankman-Fried’s motions in limine, which sought to determine admissible arguments and evidence, were also denied by the judge.

Bankman-Fried faces severe consequences if convicted on a range of charges, including fraud.

The allegations against him and other FTX executives claim that they utilized billions of dollars in customer assets for their own ill-fated investments.

The fallout from these actions led FTX to file for bankruptcy protection in late 2022.

Bankman-Fried’s testimony comes as some members of his close inner circle have already testified against him.

Earlier this month, FTX co-founder Gary Wangadmitted that he and the former FTX boss committed wire fraud. 

Wang revealed to the jury that he and Bankman-Fried engaged in financial crimes and deceitful practices