Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, arrives at court in New York, U.S., August 11, 2023.
Bankman-Fried has pleaded not guilty to two counts of fraud and five counts of conspiracy.
Prosecutors have said he looted billions of dollars in FTX customer funds to prop up his hedge fund, Alameda Research, make speculative venture investments, and contribute to U.S. political campaigns.
His decision to testify in his own defense is risky, as it opens him up to probing cross-examination by prosecutors.
Reporting by Luc Cohen in New York; Editing by Will DunhamOur Standards: The Thomson Reuters Trust Principles.
Persons:
Sam Bankman, Eduardo Munoz, Mark Cohen, FTX, Fried, District Judge Lewis Kaplan, Luc Cohen, Will Dunham
Organizations:
REUTERS, Prosecutors, Alameda Research, Reuters, U.S, District, Thomson
Locations:
New York, U.S