The decision by his legal team sets him up for a cross-examination by federal prosecutors, who will be able to press him on the collapse of his crypto exchange FTX.

Bankman-Fried's decision to testify came after federal prosecutors and his defense team were able to secure the alleged fraudster an adequate supply of his ADHD medication. His defense had previously argued before the court that inadequate access to the medication impugned his ability to participate in his defense.

The FTX co-founder's legal team will begin its defense immediately after the government finishes its case, which is expected to take place Thursday morning. Prosecutors have one remaining witness to call, an FBI agent who will serve as a summary witness.

The defense will also call three other witnesses besides Bankman-Fried to the stand, defense attorney Mark Cohen said on the call.

His lawyers had opposed the government's request to begin their defense immediately after the government rested its case in a filing Tuesday night.

It is widely considered to be a risky maneuver. While his defense team will be able to question him and the former billionaire would be able to provide his own narrative on the collapse, it also opens up Bankman-Fried to a cross-examination by federal prosecutors. So far, the prosecution has called up several of Bankman-Fried's top executives to testify, including Nishad Singh and Caroline Ellison, his one-time romantic partner and former CEO of Alameda Research.