FTX co-founder Sam Bankman-Fried is preparing his defense strategy for his upcoming fraud trial by potentially hiring expert witnesses to testify on his behalf. These witnesses, who could be paid up to $1,200 per hour, are expected to provide evidence on various matters such as campaign finance laws, valuations of FTX and its affiliate Alameda Research, as well as the software infrastructure and terms of service of the crypto exchange. Bankman-Fried’s defense seeks to refute allegations made against him, as prosecutors are relying on former friends and colleagues to testify against him. However, federal prosecutors are seeking to prevent the witnesses from testifying, claiming that their testimony only addresses Bankman-Fried’s supposed lack of criminal knowledge or intent. It is common for both defendants and the prosecution to rely on expert witnesses to support their respective cases. One of the expert witnesses, former Federal Election Commission chairperson Bradley Smith, will provide insight into US campaign finance laws and straw donors for a fee of $1,200 per hour. Although a campaign finance charge against Bankman-Fried has been dropped, prosecutors still intend to present evidence regarding his alleged use of political donations to influence industry regulation. Other potential witnesses may charge between $400 and $1,100 per hour. For example, financial services industry consultant Peter Vinella would opine that certain practices highlighted in Bankman-Fried’s indictment are widely accepted in the financial services industry, including the unrestricted use of customer assets. Another potential witness, Professor Andrew Di Wu, would discuss blockchain technology and the crypto market meltdowns of 2022. Bankman-Fried’s defense may also employ an advice of counsel defense, arguing that he was following the directions of FTX’s attorneys when carrying out actions that prosecutors claim were illegal. Several of Bankman-Fried’s close associates have already pleaded guilty to fraud and have agreed to cooperate with the government. The accusations against Bankman-Fried involve commingling customer funds, diverting funds from the exchange for purposes such as loans to executives, real estate purchases, and high-risk trading, leading to the collapse of FTX in November 2022.