LIVE: Sam Bankman-Fried Retakes Stand After Rough Cross-Ex in FTX Fraud Trial

NEW YORK -- Sam Bankman-Fried has retaken the stand for a fourth – and likely final – day in his ongoing criminal fraud trial over the collapse of FTX.

This developing story will be regularly updated throughout the day.

The failed cryptocurrency exchange's founder has so far tried to present an alternative explanation of how one of the world's better-known trading platforms collapsed, suggesting it grew too quickly and without sufficient oversight or risk planning. However, prosecutors – led by Assistant U.S. Attorney Danielle Sassoon – have quickly sought to puncture that narrative, grilling Bankman-Fried about his involvement in FTX and its sister company Alameda Research, his public statements and whether he was permitted to use FTX customer funds, one of the key issues at the heart of the criminal case.

AUSA Sassoon: You gave the Bahamas Prime Minister floor side seats at the Miami Heat Arena?
SBF: I don't remember that.
AUSA: Here's a message where you say he is in FTX's court side seats with his wife.

— Inner City Press (@innercitypress) October 31, 2023

The trial entered its fifth week on Monday, but looks set to conclude within the next few days. After the defense rests, the prosecutors plan to call two last witnesses.

Once they're done, Judge Lewis Kaplan intends to hold a charge conference, where the attorneys will debate what's become a contentious part of the trial – just what instructions will the judge provide to the jurors to help them determine whether Bankman-Fried committed fraud and conspired to commit fraud beyond a reasonable doubt.

Jury deliberations may begin as soon as the end of this week, but seem likely to stretch into next week.

Read all of CoinDesk's coverage here.