Sam Bankman-Fried will testify at criminal trial, lawyer says

© Reuters. FILE PHOTO: Former FTX Chief Executive Sam Bankman-Fried, who faces fraud charges over the collapse of the bankrupt cryptocurrency exchange, leaves following a hearing at Manhattan federal court in New York City, U.S. January 3, 2023. REUTERS/Andrew KellyNEW YORK -FTX cryptocurrency exchange founder Sam Bankman-Fried plans to testify in his own defense at his criminal fraud trial, defense lawyer Mark Cohen said during a telephone hearing on Wednesday.

Three former members of Bankman-Fried's inner circle at FTX and Alameda testified during his trial earlier this month that he directed them to commit fraud. The jury in Manhattan federal court has also heard from FTX customers and lenders to Alameda who said they were duped by Bankman-Fried. But testifying comes with significant risks for criminal defendants such as Bankman-Fried. It will expose him to probing cross-examination by prosecutors who would come armed with documents, messages and testimony from cooperating witnesses that they can use to attack his credibility.

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