Former FTX CEO Sam Bankman-Fried will take the stand on Thursday

Quick Take

  • Sam Bankman-Fried is expected to take the stand on Thursday, his lawyers said on a conference call. 

Sam Bankman-Fried, the disgraced former CEO of the FTX crypto exchange, is expected to take the stand on Thursday, defense lawyers said.

During a teleconference on Wednesday, Bankman-Fried's lawyer Mark Cohen confirmed his client will testify and that his testimony will probably take the entire day on Thursday, before going into cross examination on Friday.

Bankman-Fried's decision comes after weeks of speculation about if he would actually testify. Analysts had seemed split on whether he would and have said that if the former billionaire does decide to testify, it would take a few days. 

Bankman-Fried's defense has seemingly struggled before the trial to get certain witnesses on the stand.


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Expert witnesses

All of the seven expert witnesses Bankman-Fried proposed to call, for example, were denied by Judge Kaplan, though Kaplan left open the door for him to call on four as rebuttals to government witnesses. Many of Bankman-Fried's motions in limine, which concerned which arguments and which evidence could be offered at trial, have also been denied by the judge. 

The former FTX CEO faces decades in prison if he is convicted on a slew of charges, including fraud, over allegations that he and other FTX executives used billions of customer assets to make their own failed investments. FTX filed for bankruptcy protection late last year. 

Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Authors

Sarah is a reporter at The Block covering policy, regulation and legal happenings. Before, Sarah was a reporter with CQ Legal writing about securities regulation, which is where she first started reporting on crypto. Sarah has also written for The Bond Buyer and American Banker, among other finance-related publications. She graduated from the University of Missouri and earned a degree in print and digital journalism. Sarah is based in Washington D.C., and is an avid coffee lover. You can follow her on Twitter @ForTheWynn.
Anna is a senior policy reporter and assistant editor at The Block. She has a background in political journalism and covered Russian civil society for a range of news outlets in Moscow, including the award-winning newspaper Novaya Gazeta. Before joining The Block, Anna spent the past five years investigating cryptocurrency policies and adoption around the world at CoinDesk. Anna owns bitcoin and a gift NFT of sentimental value.


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