- SBF wants to take a legal gamble.
- The former FTX CEO will likely testify in his criminal trial.
- The defense team has asked to elicit testimony regarding SBF’s knowledge on various issues.
Since FTX filed for bankruptcy, the exchange’s disgraced founder, Sam Bankman-Fried (SBF), has always claimed that he did nothing wrong, whether in interviews or social media posts.
As fate would have it, the fallen crypto mogul now has an opening to make that case directly to jurors in the FTX fraud trial, a high-stakes legal gamble to avoid imprisonment.
SBF’s Plan to Testify at His Trial
During a video conference in Manhattan federal court, Bankman-Fried’s chief trial attorney, Mark Cohen, told Judge Lewis A. Kaplan that the defense would line up three witnesses alongside SBF, who would testify after the prosecution rested its case on Thursday, October 26.
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In a follow-up six-page letter addressed to Judge Kaplan late Wednesday, the defense team elaborated on SBF’s planned testimony, hoping the court would allow him to take the witness stand.
Per the letter, the defense team seeks to elicit testimony regarding Bankman-Fried’s knowledge of the involvement of counsel in certain matters, as well as to question the fallen crypto mogul about his knowledge of certain practices in the crypto industry.
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The defense team also sought to question SBF’s beliefs and intentions after FTX’s bankruptcy.
“We intend to elicit testimony regarding Mr. Bankman-Fried’s intentions and beliefs on November 12, 2022, to rebut the inferences from Gary Wang’s testimony that Mr. Bankman-Fried directed the transfer of assets to Bahamian regulators on that date, over the objections of FTX’s in-house and outside legal counsel, in an effort to retain control of FTX,” the letter read.
SBF’s decision to testify doesn’t come as a huge surprise, as the former FTX CEO has always defended himself in the court of public opinion, particularly by shifting blame to others.
Bankman-Fried’s Defense
Despite some former FTX executives pleading guilty and agreeing to cooperate with the government against SBF, the disgraced crypto golden boy maintains his “innocence.”
Besides pleading not guilty to multiple counts of federal charges, SBF has alleged from the get-go that some of his trusted lieutenants, including his ex-paramour Caroline Ellison, former CEO of Alameda Research, failed to do their jobs properly, leading to the collapse of FTX.
Read how an FTX customer lost money because he trusted SBF:
FTX Customer Duped by SBF’s Lies Details Brutal $300K Loss
Stay updated on how SBF’s lawyers plan to rebut DOJ testimony:
SBF’s Lawyers File to Rebut DOJ Testimony with Expert Witness
