Sam Bankman-Fried to Defend Himself in Fraud Trial, Takes the Stand

Former FTX CEO Sam Bankman-Fried is expected to testify in his own defense as his fraud trial resumes in Manhattan federal court. Bankman-Fried faces seven counts of fraud, conspiracy, and money laundering related to the alleged misuse of customer deposits on the FTX crypto trading platform. Prosecutors have accused him of using customer funds to cover losses at his hedge fund, Alameda Research, and for personal expenses such as buying real estate. Bankman-Fried has pleaded not guilty to all charges and could face up to 110 years in prison if convicted.