Sam Bankman-Fried will testify at criminal trial, say defense lawyers
After much speculation, the former FTX CEO will be one of only a handful of witnesses to testify for his defense in the criminal fraud case.
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After much speculation, the former FTX CEO will be one of only a handful of witnesses to testify for his defense in the criminal fraud case.
Options reportedly include selling the entire exchange, including its extensive customer base of over nine million, to potentially forming a partnership with another entity to revive the platform.
According to former FTX general counsel Can Sun, Bankman-Fried "was not surprised at all" that billions of dollars were missing.
The former FTX CEO faces seven counts of conspiracy and fraud. A New York court will decide his fate.
Sam Bankman-Fried's defense team cross-examined former FTX engineering director Nishad Singh following questions from the prosecution on Oct. 16.
Nishad Singh's testimony was seemingly part of prosecutors' strategy to establish Sam Bankman-Fried had been behind Alameda Research using FTX user funds.
The former FTX engineering director reportedly testified that SBF would "unilaterally spend Alameda's money” and was “ultimately” in charge of the firm rather than Caroline Ellison.
Lawyers for the FTX founder have asked if he can take long-release ADHD medication as he’s been unable to properly concentrate during his trial.
Former Alameda CEO Caroline Ellison recognized she wasn't doing a good job months before the company filed for bankruptcy, but Sam Bankman-Fried persuaded her to stay.
The former FTX CEO faces seven counts of conspiracy and fraud. A New York court will decide his fate.