Sam Bankman-Fried is expected to testify as soon as Thursday in his own defense, his lawyers signaled during a telephone hearing Wednesday.
is expected to testify as soon as Thursday in his own defense, his lawyers signaled during a telephone hearing Wednesday while the trial is paused.
Defense attorneys plan to put on a limited case, including testimony from Bankman-Fried. The former crypto billionaire faces seven counts of fraud, conspiracy and money laundering centered on his alleged use of customer deposits on the crypto trading platform FTX to cover losses at his hedge fund, Alameda Research, and to buy lavish real estate, among other personal expenses.
A witness, Adam Yedidia, who worked as a developer at FTX, testified that Alameda paid for a $35 million apartment in the Bahamas, where he said Bankman-Fried lived with nine other employees. "Because if they spend the money that belongs to the FTX customers, then it's not there to give the FTX customers should they withdraw," Yedidia said during his testimony.
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