Sam Bankman-Fried's Fraud Trial: Unveiling the Defense Strategy

Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, is expected to defend himself at his fraud trial by arguing that he did not believe the use of customer funds was improper and challenging the credibility of those who claim otherwise. Bankman-Fried's defense may rely on the argument that he lacked criminal intent despite making mistakes that led to FTX's collapse. However, testimony from former colleagues who have pleaded guilty and are set to testify against him could undermine his claim of good faith. Prosecutors allege that Bankman-Fried approved the use of customer funds and altered FTX's code to benefit his hedge fund. The trial will determine whether fraud occurred.