Sam Bankman-Fried to testify in federal fraud trial, attorney says
Cryptocurrency entrepreneur Sam Bankman-Fried is set to testify as a witness in a federal fraud trial, according to a filing by a defense attorney. Bankman-Fried, the founder of digital currency exchange FTX, is set to testify on behalf of defendant Matthew Brent Goettsche, according to a filing by Goettsche’s attorney, Matt McCullough. Goettsche is accused of participating in a criminal conspiracy to defraud investors of more than $722 million through the BitConnect crypto scheme. Bankman-Fried will reportedly testify about the complexity of the cryptocurrency industry and the importance of determining the legitimacy of investments. The cryptocurrency entrepreneur became involved with the case earlier this year after Goettsche reached out to him for help. Bankman-Fried was reportedly brought in to serve as an expert witness but later changed his testimony to a witness after a dispute with the defense lawyers. It is unclear exactly what Bankman-Fried will say when he takes the stand. The trial is scheduled to begin on October 13.