As the trial draws to a close, SBF’s testimony may be his only chance for a favorable ruling.

Although defendants in his position are usually advised not to testify, SBF will try to convince the jury that he acted in good faith.

Defendants in high-profile white-collar criminal cases have traditionally preferred to remain silent, invoking the Fifth Amendment to avoid self-incrimination. However, in recent years, some defendants, such as Elizabeth Holmes, have bucked the trend.

The case could be concluded next week.

Recently, SBF's lawyers, Judge Kaplan and the prosecution held a conference call, and the judge decided to schedule defense testimony to begin on October 26, after the prosecution's closing argument.

While some involved in the case hoped the trial could wrap up on Monday, that seemed unrealistic given the likelihood of cross-examination.

During the call, Bankman-Fried's attorney, Mark Cohen, told Judge Kaplan that the defense will have three witnesses testify, as well as SBF himself. Cohen said SBF's testimony is expected to take a similar amount of time as the testimony of his former executive colleagues.

Other witnesses of interest include a Bahamian lawyer (who wishes to remain anonymous and will explain FTX’s duties and position) and PF2 securities litigation counsel Joseph Pimbley. Pimbley and other proposed witnesses were initially barred from testifying due to a motion filed by prosecutors.

Final attempt

Former federal prosecutor Josh Naftalis commented on the case, believing that this was SBF's last chance to convince the jury that the collapse of the FTX empire was simply because things got out of control and that he had no malicious intent.

“We’re in the home stretch, and this is his Hail Mary, to use another metaphor. This is his chance to say, ‘I meant no wrong, I acted with no malice. I acted with good intentions, but things got out of hand.’ It’s very difficult for any defendant to explain their thinking to a jury unless they take the stand and testify.”

However, SBF has a habit of explaining his ideas in a way that often works against him. It’s anyone’s guess whether things will be different this time. Even if he manages to convince a juror that he’s innocent (which is usually enough to get a better verdict in a jury trial), SBF’s trial is a little different.

SBF's fate will be determined by a special verdict. Unlike a typical jury trial -- where a hung jury is often enough to avoid jail time as long as the jury is unanimous -- in a special verdict, the judge decides the jury's answers and draws legal implications from those answers.

SBF plans to pin the blame on the legal team representing him and his empire, according to a six-page letter his lawyers sent to the judge. #FTX交易所  #SBF