Sam Bankman-Fried, the founder of FTX who has been indicted, will take the stand in an effort to defend himself, according to his attorney. This is viewed by most as a bold strategy since it allows for the prosecution to cross-examine him. Earlier, Bankman-Fried's legal team had pointed out that he will only be able to give his defense if his access to medication for his ADHD is secured.
Sam Bankman-Fried, FTX founder, will be testifying in his own defense, his attorney declared in a conference call on Wednesday. This means Bankman-Fried will face cross-examination from federal prosecutors in connection with the crypto exchange's collapse. After the prosecution and defense were successful in obtaining an adequate amount of his ADHD medication, the defense made a decision that Bankman-Fried would take the stand.The defense will start after the government wraps up Thursday morning, following their last witness, an FBI agent. In addition to Bankman-Fried, his lawyers will also be calling three other individuals to testify.An objection to the government's demand for an immediate defense from Bankman-Fried's legal team was filed Tuesday night.The move is a gamble, allowing Bankman-Fried to explain his side of the story, yet offering federal prosecutors the chance to ask questions. Testimonies from his former CEO of Alameda Research, Caroline Ellison and executive Nishad Singh have already been heard.The government declared Bankman-Fried is guilty of fraud and money laundering for taking customer funds from the troubled exchange for political contributions, real estate and sponsorships. Signal chats, internal documents and other evidence have been presented to back up the charges.CNBC's Dawn Giel contributed to this report.
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