Prosecutors in the case against FTX founder Sam Bankman-Fried rested on Thursday, setting the stage for him to testify about how his multibillion dollar cryptocurrency empire collapsed, causing billions of dollars in losses that prosecutors blame on his extravagant spending on investments, donations and a lavish lifestyle.
His testimony was likely to begin by afternoon, a day after his lawyer told a Manhattan federal court judge that his client planned to testify in his defense. Defense lawyers estimated that they would question him for about five hours after brief testimony from two other witnesses.
