SBF to take stand today

After nearly four weeks of testimonies by several former colleagues, including his ex-girlfriend, FTX’s founder Sam Bankman-Fried (SBF) is set to take the stand today—for the first time since his trial began on October 3.

In a hearing (without jurors) in front of US District Judge Lewis Kaplan yesterday, the disgraced crypto king said he relied on FTX lawyers’ advice when making the alleged fraudulent business decisions.

Witnesses say Judge Kaplan appeared frustrated with SBF’s vague answers to questions posed and, at one point, said, “Listen to the question, and answer the question directly.”

SBF is on trial for scamming investors of $8.7 billion and other charges related to the collapse of the crypto platform FTX and its sister investment firm, Alameda Research. He pleaded not guilty to all seven counts of federal fraud.