Sam Bankman-Fried defense rests in criminal trial, closing arguments kick off Wednesday

FTX founder Sam Bankman-Fried wrapped up his third and final day of testimony in his criminal trial.Bankman-Fried, who pleaded not guilty to criminal fraud charges, faces potential life in prison if convicted.

After three days on the stand, Bankman-Fried's testimony wrapped up Tuesday morning and the defense rested its case shortly before noon. The jury was sent home, so the judge can decide in the charging instructions what's admissible before jurors begin their deliberations. Closing arguments will start on Wednesday.Tuesday's session began with cross-examination from Assistant U.S. Attorney Danielle Sassoon, who has led the prosecution during the four-week trial.

Cohen revisited articles that stemmed from Bankman-Fried's press interviews after Nov. 11. Bankman-Fried estimated he gave around 50 interviews and didn't have access to any internal documents. He said he didn't remember every statement he made to journalists.in mid-November. In a text exchange with the reporter, Bankman-Fried wrote"F--- regulators." Bankman-Fried testified that he was growing frustrated with regulators and skeptical about what they were doing.

Regarding the $65 billion line of credit to Alameda, Bankman-Fried said that was the maximum withdrawal size but it was never near that amount. He said it was typically around $2 billion.

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