Sam Bankman-Fried got a test run at testifying at his fraud trial Thursday when a judge sent jurors home so he could hear snippets of testimony and decide what the FTX founder will be allowed to tell the jury.
Bankman-Fried has decided to testify Friday to tell his version of how his multibillion-dollar cryptocurrency empire grew into a giant in the industry and then collapsed, causing billions of dollars in losses that prosecutors blame on his extravagant spending on investments, donations and a lavish lifestyle.
It seemed on Thursday that Bankman-Fried was about to start his testimony before the jury after lunch when Judge Lewis A. Kaplan changed the plans, saying he'd prefer to make rulings on what Bankman-Fried can testify about before he starts. He had previously said he'd conduct a hearing and make those rulings on Friday.
"We're in the home stretch," Kaplan told jurors as he sent them home for the day, saying he knew it was a little surprise for them to have the rest of the afternoon off. He told them they were likely to get the case in the first few days of next week.
Since early October, prosecutors have presented their case through witnesses and dozens of exhibits including financial records.
After prosecutors rested Thursday, defense lawyers immediately asked Kaplan to acquit Bankman-Fried on the grounds that prosecutors had failed to present sufficient evidence. The judge rejected the request.
The California entrepreneur has pleaded not guilty to conspiracy charges accusing him of diverting billions of dollars from his clients and investors to make risky investments, buy luxury housing, engage in a star-studded publicity campaign and make large political and charitable donations.
Bankman-Fried, 31, has remained quiet through a three-week trial as several members of his executive inner circle have testified against him in cooperation deals they made with the government before pleading guilty to criminal charges.
In their testimony, the executives insisted that Bankman-Fried directed them to spend billions of dollars taken from the accounts of FTX customers and funneled through Alameda Research, a hedge fund he started in 2017, two years before he created the FTX cryptocurrency exchange.
Bankman-Fried was arrested in the Bahamas and extradited to the United States last December, a month after his businesses collapsed.
Initially, he was freed on a US$250 million personal recognizance bond and required to remain at the Palo Alto, California, home of his parents, longtime Stanford University law professors.
Kaplan revoked the bail in August after concluding that Bankman-Fried had tried to influence potential trial witnesses and ordered him jailed.
Those testifying against Bankman-Fried have included Caroline Ellison, his former girlfriend who was chief executive of Alameda before it was publicly revealed that billions of dollars were missing last November.
She told jurors that the collapse of the businesses brought her "relief that I didn't have to lie anymore" and she blamed Bankman-Fried for corrupting her moral compass by creating justifications for doing things that she knew to be wrong and illegal.
She also admitted doctoring financial balance sheets to try to hide that Alameda was borrowing about US$10 billion from FTX customers by June 2022, a discrepancy that was revealed when customers rushed to withdraw deposits last November as word got out that their money was not safe.
Hurricane Milton is a Category 4 storm forecast to bring extreme flooding, high winds and heavy rain to the central west coast of Florida.
A Turkish Airlines jetliner headed from Seattle to Istanbul made an emergency landing in New York on Wednesday after the captain died on board, an airline official said.
Hundreds of thousands of vehicles are being recalled in Canada due to a steering-related issue that could increase a driver's risk of crash.
One in eight women will be diagnosed with invasive breast cancer in their lifetimes, according to the American Cancer Society. Breast cancer is the second leading cause of cancer death for women in the United States, with 42,000 women dying every year from this cancer.
A B.C. woman who was recorded praising Hamas as 'heroic and brave' can return to protest rallies, authorities confirmed this week.
Erin Folk and her family are dealing with a nightmare of a situation, after their pet dogs were shot last week and left to suffer.
An organization that ranks the best universities across the globe says its latest report shows a concerning trend that several of Canada’s institutions are slipping down its list.
COVID-19 could be a powerful risk factor for heart attacks and strokes for as long as three years after an infection, a large new study suggests.
The federal government introduced a number of measures related to housing on Tuesday, which include measures for homeowners wanting to add a secondary suite, taxing vacant land and building homes in place of underused federal properties.
A B.C. woman who was recorded praising Hamas as 'heroic and brave' can return to protest rallies, authorities confirmed this week.
Another beluga whale has died at Marineland and four years into a provincial probe, Ontario's solicitor general is saying little about the investigation's progress.
Erin Folk and her family are dealing with a nightmare of a situation, after their pet dogs were shot last week and left to suffer.
The John Howard Society of Saskatchewan (JHSS) appeared in the Supreme Court of Canada Tuesday challenging a regulation that it says lets provincial correctional workers discipline inmates without sufficient proof.
Thanksgiving Day is a federal statutory holiday in Canada, and falls on Monday, Oct. 14 this year. Here's what to know about what is open this Monday.
The leaders of B.C.'s main political parties sparred over health care, housing, and affordability Tuesday, pitching competing visions for how to address the most urgent issues facing the province in a debate punctuated by a few feisty exchanges.
Steady rain fell and winds began to gust in the Tampa Bay area Wednesday morning as a mighty Hurricane Milton churned toward a potentially catastrophic collision with the west coast of Florida, where officials sounded urgent warnings for residents to flee inland or face grim odds of surviving the storm's surge.
Since Joe Biden ended his reelection bid, Kamala Harris swiftly secured the U.S. Democratic presidential nomination, brought in hundreds of millions of dollars in new campaign donations and surged past Biden’s poll numbers from earlier this year. And yet, Democrats are increasingly anxious over Harris' fate. Why?
A large-scale Israeli operation in northern Gaza has killed dozens of people and threatens to shut down three hospitals over a year into the war with Hamas, Palestinian officials and residents said Wednesday.
Control of the White House and the narrowly divided Senate and House may hang in the balance on Nov. 5, but don’t expect election night to be all nail-biters and barn burners. Chances are some winners will be declared before a single vote has been tallied, just as the polls close in those states.
A UN tribunal has ordered a former high-ranking official to repay the United Nations US$58.8 million lost in deals he made with a British businessman who showered him with interest-free loans, a Mercedes for his wife and perks for his sons.
The family of Ethel Kennedy, the widow of Robert F. Kennedy, says she's been hospitalized after suffering a stroke.
The minority Liberal government is not considering proroguing Parliament, Deputy Prime Minister Chrystia Freeland said Tuesday, despite persisting uncertainty over who is willing to keep propping them up and procedural wrangling over a Conservative led-privilege debate.
Prime Minister Justin Trudeau is in Laos this week to meet with southeast Asian leaders — the Liberal government’s latest effort to strengthen Canada’s ties in a region with strong Chinese influence.
Nathalie Drouin, the prime minister's national security and intelligence adviser, is scheduled to appear today at a federal inquiry into foreign interference.
COVID-19 could be a powerful risk factor for heart attacks and strokes for as long as three years after an infection, a large new study suggests.
The Ontario Ministry of Health says four people have been sickened after consuming beef tongue believed to be contaminated with listeria.
One in eight women will be diagnosed with invasive breast cancer in their lifetimes, according to the American Cancer Society. Breast cancer is the second leading cause of cancer death for women in the United States, with 42,000 women dying every year from this cancer.
The research that won Geoffrey Hinton a Nobel Prize for physics was the product of plenty of work carried out before artificial intelligence was the buzzword it is today.
The space rock is slinging toward Earth from the outer reaches of the solar system and will make its closest pass on Saturday. It should be visible through the end of October, clear skies permitting.
The Brazilian Supreme Court's Justice Alexandre de Moraes on Tuesday authorized the restoration of social media platform X´s service in Brazil, over a month after its nationwide shutdown, according to a statement posted on the court's website.
Jenna Fischer is highlighting Breast Cancer Awareness Month by sharing that she is now 'cancer free' after she was diagnosed with the disease in October 2023.
Andrew Garfield’s ability to so lovingly and poetically express his grief for his mother, Lynn, who died of pancreatic cancer in 2019, offers a gift of connection, and, perhaps, catharsis, to anyone experiencing loss.
Sum 41 lead singer Deryck Whibley alleges in his new memoir that he was pressured into a secret sexual relationship with his former manager, Treble Charger frontman Greig Nori.
A new report says growth in average asking rents across Canada last month slowed to the lowest rate since October 2021, at 2.1 per cent year-over-year.
A new report says condo inventory is on the rise in most major Canadian markets as more sellers are listing their properties in anticipation of growing demand from buyers.
Amazon has just launched a new service in Canada where delivery drivers can drop packages off directly in garages for those who want to protect their parcels from being swiped by porch pirates.
An elevator mechanic mistakenly threw out a piece of artwork, made to look like empty beer cans, assuming it was litter, a Dutch museum revealed earlier this month.
Have you ever seen videos of hovercrafts online or on TV and thought, 'Wow, I wish I could ride one of those.' One Alberta man did, and then built his own.
A wildlife rescue in B.C. is caring for two orphaned bobcat kittens who have become as inseparable as 'real sisters' even though it's highly unlikely they are actually from the same litter.
Saskatchewan’s Jessica Campbell has made hockey history, becoming the first ever female assistant coach in the National Hockey League (NHL).
The NFL's Tampa Bay Buccaneers and NHL's Tampa Bay Lightning have left Florida ahead of Hurricane Milton to practice the rest of the week.
RJ Barrett will miss the rest of the Toronto Raptors' pre-season with an injury.
Hundreds of thousands of vehicles are being recalled in Canada due to a steering-related issue that could increase a driver's risk of crash.
Mercedes-Benz has partnered up with the Ontario Vehicle Innovation Network (OVIN) and the provincial government to launch a new “incubator programâ€. One of the first three locations is Windsor, with the other two going to Toronto and Kitchener-Waterloo.
New data from the Insurance Bureau of Canada (IBC) shows that even though claims for auto theft dropped in the first half of 2024 compared to their 2023 peak, the rates of reported theft remain well above those of years prior.
Have you ever seen videos of hovercrafts online or on TV and thought, 'Wow, I wish I could ride one of those.' One Alberta man did, and then built his own.
Saskatchewan’s Jessica Campbell has made hockey history, becoming the first ever female assistant coach in the National Hockey League (NHL).
A B.C. couple is getting desperate – and creative – in their search for their missing dog.
Videos of a meteor streaking across the skies of southern Ontario have surfaced and small bits of the outer space rock may have made it to land, one astronomy professor says.
A unique form of clouds made an appearance over the skies of Ottawa on Sunday evening.
Bernie Hicks, known as the ‘Batman of Amherst,’ always wanted to sit in a Batmobile until a kind stranger made it happen.
Bubi’s Awesome Eats, located on University Ave West took to social media to announce the closure on Friday.
Weeneebayko Area Health Authority and the Government of Ontario have awarded a $1.8 billion fixed-price contract to design, build and finance a new Far North hospital.
Manitobans are in cleanup mode after intense winds barreled through southern parts of the province this weekend.
A B.C. woman who was recorded praising Hamas as 'heroic and brave' can return to protest rallies, authorities confirmed this week.
The leaders of B.C.'s main political parties sparred over health care, housing, and affordability Tuesday, pitching competing visions for how to address the most urgent issues facing the province in a debate punctuated by a few feisty exchanges.
A suspect remains at large after an assault sent a man to hospital with serious injuries in Nanaimo, B.C.
Police say there are 'early indications' that a stolen vehicle was involved in a fiery crash in Toronto involving two TTC buses early Wednesday morning.
Hurricane Milton is approaching Florida’s west coast as a powerful Category 4 storm, and Hydro One says 150 of its crew members will be in the state to restore electricity taken out in its wake.
Amazon has just launched a new service in Canada where delivery drivers can drop packages off directly in garages for those who want to protect their parcels from being swiped by porch pirates.
An Airdrie resident is facing several charges after police say they were caught in possession of several stolen vehicles.
Calgary police are searching for a suspect or suspects in a stabbing that occurred in the city's southeast on Tuesday evening.
A short documentary featuring Jasper aerial artist Sasha Galitzki will have its debut at a prestigious festival in the Canadian Rocky Mountains.
As one of the most powerful hurricanes threatens to make landfall in Tampa Bay, residents brace for the impact.
The Ottawa Senators have signed goaltender Linus Ullmark to a new four-year contract extension ahead of the start of the NHL season.
The Ottawa Police Service is asking the public for help in identifying three suspects involved in an alleged assault last month in the area of Besserer and Dalhousie streets.
Three young people aged 17, 19 and 20 were arrested after shots were fired late on Tuesday near Old Montreal. No one was injured in the shooting, but the suspects will be interviewed by Montreal police investigators.
Quebec chicken chain St-Hubert is entering the 'value menu wars' by offering a series of cheaper options for lunch and freezing prices on its main courses.
A cougar was spotted early Wednesday morning within the city of Lloydminster, police are warning the public.
Randy Boissonnault, MP for Edmonton Centre and the federal minister of employment, workforce development and official languages, has been named the ministerial lead of Jasper's rebuild.
Gusty wind Tuesday night ushered in a much cooler airmass that'll stick around for a few days.
Premier Tim Houston said he was notified on Monday morning that funds had been allegedly stolen from the Pictou East Riding Association.
Former CTV Atlantic employee Eric Bungay who now works for a CBS affiliate in Tampa Bay is bracing for Hurricane Milton's arrival.
International award-winning editorial cartoonist Michael de Adder has been cut from the Halifax Chronicle Herald.
A 42-year-old Winnipeg man has been charged with human smuggling following an investigation near a Canada-U.S. border crossing in Manitoba.
Manitoba RCMP and the Winnipeg Police Service are launching Manitoba's Most Wanted website.
Concerns are being raised over a questionable PC campaign expense, after an invoice for a car rental was submitted by a company advertising sex and intimacy coaching.
A 17-year-old boy has been charged in connection with multiple incidents in late September that saw two Regina houses shot at during the overnight hours.
Erin Folk and her family are dealing with a nightmare of a situation, after their pet dogs were shot last week and left to suffer.
Hundreds of thousands of vehicles are being recalled in Canada due to a steering-related issue that could increase a driver's risk of crash.
Fire crews were called to respond to Mohawk Plaza shortly before 2 a.m. Tuesday.
The new Sports and Entertainment Centre is set to be built in an empty parking lot, right next to the existing Civic Centre arena, which is where the Bulldogs play.
Hundreds of thousands of vehicles are being recalled in Canada due to a steering-related issue that could increase a driver's risk of crash.
Dozens of people gathered at Saskatoon city hall Tuesday to voice their concerns about the growing issue of homelessness in our city, and to offer their own solutions.
The province’s consumer watchdog is investigating a Saskatoon company selling luxury vacation condos in Mexico.
Erin Folk and her family are dealing with a nightmare of a situation, after their pet dogs were shot last week and left to suffer.
Hundreds of thousands of vehicles are being recalled in Canada due to a steering-related issue that could increase a driver's risk of crash.
Plans are on track for the proposed events centre in downtown Sudbury, city council heard the latest update on the major project Tuesday night.
The City of Greater Sudbury is diving into development for a couple of future plans involving pools and other aquatic services across the city.
St. Thomas police are on scene of a vehicle collision involving a pedestrian.
A wanted suspect in relation to a break and enter and shooting investigation has been arrested in Oshawa.
Two people are facing charges after police seized around $9,000 in drugs in North Middlesex.
The jury reached a verdict on Wednesday in the 1994 Katherine Janeiro murder case, finding her former boyfriend, Bruce Ellis, not guilty.
Police arrested a man they say is responsible for a rash of robberies at convenience stores in Barrie over the last 10 months.
Police in Huntsville are investigating a deadly single-vehicle collision that happened Tuesday morning.
Homes were evacuated around 9:30 a.m. on Wednesday morning due to a gas leak in the 12100 block of St. Thomas Crescent.
Hundreds of thousands of vehicles are being recalled in Canada due to a steering-related issue that could increase a driver's risk of crash.
Chatham and Wallaceburg fire departments were dispatched to Running Creek Road in Chatham-Kent on Tuesday afternoon after receiving reports of flames.
A suspect remains at large after an assault sent a man to hospital with serious injuries in Nanaimo, B.C.
The leaders of B.C.'s main political parties sparred over health care, housing, and affordability Tuesday, pitching competing visions for how to address the most urgent issues facing the province in a debate punctuated by a few feisty exchanges.
A Vancouver Island man has been charged in connection with a hit-and-run crash that killed a teenager near Duncan, B.C., earlier this year.
A U.S. District Court judge in Montana has sentenced a 27-year-old man from Kelowna, B.C., to 18 months in prison for using fake names to buy guns with the aim of selling them in Canada.
Nearly two years after a man was stabbed to death in downtown Kelowna, RCMP have made an arrest in the case.
NDP Leader David Eby is promising to offer a $75-million loan forgiveness program to entice doctors, nurses and heath professionals to expand health-care services in rural British Columbia.
Charges have been laid against a 44-year-old man following a traffic stop in Brocket, Piikani Nation RCMP said Tuesday.
A metal fabrication company west of Medicine Hat has been fined by Alberta Occupational Health and Safety (OHS) following a workplace fatality in 2023.
A Lethbridge police officer involved in a scandal involving former Lethbridge New Democrat MLA Shannon Phillips has been reprimanded.
Jeff Warner from Aidie Creek Gardens in the northern Ontario community of Englehart has a passion for growing big pumpkins and his effort is paying off in more ways than one.
A woman in Greater Sudbury, Ont., said "It doesn't get more Canadian than this" when she spotted a black bear dumpster diving at a Tim Hortons last month.
The Federation of Northern Ontario Municipalities (FONOM) is the latest organization to call on the Doug Ford government to re-open dialogue with an airline service that transports lower-income Canadians to crucial medical care far from home.
A Conservative MP from Newfoundland and Labrador says some small towns in his rural riding are overrun with crime, but police say they haven't received reports to that effect.
As millions in federal funding flow into a Labrador group whose claims of Inuit identity have been rejected by Indigenous organizations across Canada, a national Inuit leader worries the Liberal government is putting the rights of Indigenous Peoples at risk.
He may not have logged the fastest time or even gone the full distance, but residents of a Newfoundland town agree the goat who unexpectedly joined the local weekend half marathon was the event's undisputed champion.
The Shopping Trends team is independent of the journalists at Â鶹´«Ã½. We may earn a commission when you use our links to shop. Read about us.
