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FTX co-founder Sam Bankman-Fried returns to the stand Monday, when he’s likely to face a bruising cross-examination based on his Friday testimony that he made mistakes but didn’t commit fraud that led to the cryptocurrency exchange’s collapse.
Bankman-Fried was questioned by his own lawyer on Friday, and he used his time on the stand to offer alternative explanations for actions prosecutors have described as nefarious. The case against Bankman-Fried centers on allegedly fraudulent transfers of billions in FTX customer funds to an affiliated hedge fund, Alameda Research, in which he held a 90% interest.
