Sam Bankman-Fried, the founder of FTX, will take the stand to defend himself in his criminal fraud trial, according to his lawyers. Prosecutors allege that Bankman-Fried knowingly transferred customer money to Alameda and cooked FTX’s books. Bankman-Fried has denied these allegations, claiming that he is not guilty. The trial will be a high-stakes bid to persuade jurors of his innocence. Bankman-Fried’s credibility will be tested under cross-examination over FTX’s collapse, which has triggered billions in losses.
This is bad news for Bankman-Fried, as he will have to answer tough questions about his alleged actions. It is unclear whether he will be able to prove his innocence or not.
You can read more about this topic here: Watcher Guru: FTX’s Bankman-Fried to Testify in Fraud Trial, Proclaim Innocence