Ex-crypto mogul Sam Bankman-Fried's federal trial begins in Manhattan

Former cryptocurrency mogul Sam Bankman-Fried's trial began Tuesday in Manhattan on seven federal counts of fraud and conspiracy related to the collapse of his now-bankrupt investment firm FTX.

The trial began with jury selection, which is expected to last most of the first day, after Bankman-Fried, 31, pleaded not guilty to all charges earlier this year. Opening arguments are expected later this week, according to CNN.

Federal Judge Lewis Kaplan told Bankman-Fried before the pool of potential jurors arrived that the decision to testify is "solely" for the defendant to make, not his attorneys.

"They can’t make that decision for you. It’s your call… You need to understand that," Kaplan said.

While it is unclear whether Bankman-Fried will testify, four of his former high-level associates cooperated with prosecutors and pleaded guilty, and some of his former colleagues are expected to testify against him. 

Bankman-Fried has been jailed since August after Kaplan revoked his bail after prosecutors said he attempted to intimidate a witness.

Court documents indicate that Bankman-Fried's attorneys may try to argue that their client did not knowingly commit fraud.

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