FTX: 'King of Crypto' to testify in fraud case

Former crypto boss Sam Bankman-Fried, who is on trial in the US for fraud, will speak in his own defence, his legal team has said.

The decision comes shortly before prosecutors are due to wrap up their side of the case.

The 31-year-old is accused of lying to investors and lenders and stealing money from customers of his now-bankrupt cryptocurrency exchange, FTX.

Bankman-Fried, who could testify as early as this week, denies the charges.

Many analysts had expected the former entrepreneur to testify to try to undermine the case presented by prosecutors, which has been built on statements from some of his closest former friends and colleagues.

But the move is considered risky.