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Sam Enzer, a partner at the law firm Cahill Gordon & Reindel, told Laura that former FTX CEO Sam Bankman-Fried did about as well as he could in his testimony Friday but that he was unlikely \u201cto withstand the scrutiny\u201d of what prosecutors have already said will be a robust cross-examination when he takes the stand Monday.\xa0\nEnzer noted that Bankman-Fried\u2019s attempts to explain why he thought his trading shop, Alameda Research, could borrow billions in dollars of FTX customer assets \u201cdefies common sense,\u201d and that the company\u2019s own terms of agreement or any other communications offered no justification for this belief. A Thursday hearing without the jury present, in which the defense gave a preview of some arguments it wanted to make, ended up giving the government answers from SBF that it can now use against him. Enzer also said that Bankman-Fried\u2019s contention that his biggest mistake \u2013\xa0a failure to implement proper risk management \u2013 did not constitute criminal fraud, did not address the core of the government\u2019s case; namely, that he lied about how FTX was handling customer deposits.\nShow highlights:\n\nwhy Enzer thinks Sam Bankman-Fried\u2019s testimony is unlikely to sway jury sentiment or withstand cross-examination\n\nwhy the evidentiary hearing in which SBF testified without a jury may hurt his cause\n\nthe purpose of the evidentiary hearing\n\nhow Judge Lewis Kaplan hinted at what he thought about SBF\u2019s testimony\n\nhow Bankman-Fried is likely to fare against prosecutor Danielle Sassoon in what she has promised will be a robust cross-examination\n\nhow the defense tried to recast SBF\u2019s image by humanizing him\n\nwhy the defense now has the strongest grounds for an appeal than it previously did\xa0\n\nwhat the jury is likely to make of SBF\u2019s contention that he was in the dark about core allegations\xa0\n\nwhy the prosecution said it will call rebuttal witnesses\n\nwhat a charge conference is and why that will take place after SBF testifies\n\nThank you to our sponsors!\n\nCrypto.com\n\nArbitrum Foundation\n\nLayerZero\n\nPopcorn Network\n\n\nGuest:\n\nSam Enzer, partner at Cahill Gordon & Reindel\nLinks\n\nPrevious coverage by Unchained on the trial of Sam Bankman-Fried:\n\nHow Heated Sidebars During the SBF Trial Could Impact the Jury\u2019s Decision\n\nSBF Trial, Day 1: Possible Witnesses Include FTX Insiders, Big Names in Crypto, and SBF\u2019s Family\n\nSBF Trial, Day 2: DOJ Says Sam Bankman-Fried \u2018Lied\u2019 While Defense Claims His Actions Were \u2018Reasonable\u2019\n\nSBF Trial, Day 3: Why a True Believer in FTX Flipped Once He Learned One Fact\n\nSBF Trial, Day 4: SBF\u2019s Lawyers Annoy Judge Kaplan, While Wang Reveals Alameda\u2019s Special Privileges\n\nSam Bankman-Fried Trial: Here's Everything That Happened So Far\n\nSBF Trial, Day 5: SBF's Defense Finally Found Its Legs, But Can It Counter Caroline Ellison?\n\nSBF Trial, Day 6: Caroline Ellison Recalls 'The Worst Week of My Life'\n\nSBF Trial, Day 7: In SBF Trial, Did the Defense Lose Its Opportunity With the Star Witness?\n\nSBF Trial, Day 8: Former BlockFi CEO Adds Credibility to Fraud Charges\xa0\n\nSBF Trial, Day 9: Nishad Singh Describes Former FTX CEO as a Bully and Big Spender\n\nSBF Trial, Day 10: Defense Struggles to Discredit Nishad Singh's Testimony\n\nSBF Trial, Day 11: How Alameda Got FTX Into a $9 Billion Hole\n\nSBF Trial, Day 12: Former FTX General Counsel Speaks Out Against SBF\n\nSBF Trial, Day 13: Before Judge, Former FTX CEO Sam Bankman-Fried Gives Few Straight Answers\n\nSBF Trial, Day 14: Sam Bankman-Fried Casts Blame on Others for Key Decisions at FTX\n\nDid Sam Bankman-Fried Have Intent to Defraud FTX Investors?\n\nGood Morning America: FTX's Sam Bankman-Fried on crypto giant's collapse: 'A lot of people got hurt. And that's on me'\n\n\n\nLearn more about your ad choices. Visit megaphone.fm/adchoices