Sam Bankman-Fried takes stand, says he made ‘small mistakes’
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Sam Bankman-Fried, founder of the collapsed cryptocurrency exchange FTX, took the stand at his trial on Friday and said that while he may have made mistakes he did not commit fraud or steal from customers.
"I made a number of small mistakes and a number of large mistakes," the onetime crypto wunderkind said in reply to a question from one of his lawyers, Mark Cohen.
"By far the biggest mistake was that we didn't have a team dedicated to risk management," Bankman-Fried said.
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His high-stakes decision to testify on his own behalf, which opens him up to cross-examination, came after three weeks of devastating testimony against the 31-year-old accused of stealing billions of dollars from clients.
Bankman-Fried, who was wearing a grey suit and t...