Sam Bankman-Fried will testify at his own trial Sam Bankman-Fried will testify at his own trial
SBF's lawyers have said they intend to call the FTX founder to the stand on Oct. 26 to testify in his own defense.
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Updated: Oct. 25, 2023 at 5:08 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
FTX founder Sam Bankman-Fried (SBF) will testify in his own criminal trial on Oct. 26, according to live coverage from Inner City Press on X (formerly Twitter).
SBF’s legal team revealed their intention to present three key witnesses in their defense. These include Bankman-Fried himself, financial services expert Joseph Pimbley, who will provide testimony supportive of SBF, and an unidentified attorney from the Bahamas, who may also offer testimony in the case.
Bankman-Fried’s legal team has not disclosed the specific focus of his upcoming testimony. However, the embattled founder would look to demonstrate his innocence regarding the alleged crimes and also assert that he consistently acted in good faith during his tenure at the helm of the now-defunct exchange.
Concurrently, the U.S. government intends to call an additional witness, FBI agent Mark Troiano, to strengthen their case against the disgraced founder. Troiano’s testimony will center on the internal communications within the defunct crypto platform and their utilization of the auto-delete feature. Prosecutors are expected to conclude their case tomorrow, Oct. 26.
Over the last three weeks, prosecutors have revealed shocking details of how SBF ran the bankrupt crypto platform and its sister trading company, Alameda Research. Former top executives of these firms, including ย Nishad Singh, Caroline Ellison, and Gary Wang, have detailed their roles in the crimes that led to the collapse of FTX.
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Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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FTX
FTX is a defunct cryptocurrency exchange, currently in bankruptcy proceedings, that was founded by Sam Bankman-Fried and Zixiao “Gary” Wang in May 2019.
Alameda Research
Alameda Research was once a principal trading firm, operating as an arm of the failed crypto exchange, FTX.
X
X (formerly Twitter) is an American social media company based in San Francisco, California, that was founded by Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams in March 2006 and was launched July of the same year.
Sam Bankman-Fried is the former CEO, and co-founder of defunct crypto exchange FTX and Alameda Research.
Caroline Ellison is the former lead trader and former CEO at Alameda Research.