The trial of Sam Bankman-Fried, founder of the collapsed cryptocurrency exchange FTX, has taken an unexpected turn as he took the stand and denied committing fraud or stealing from customers. Bankman-Fried admitted to making mistakes but emphasized that the lack of a dedicated risk management team was his biggest error. The trial has seen devastating testimony against him, with former colleagues refuting his account of FTX’s collapse. Bankman-Fried has been charged with seven counts of fraud, embezzlement, and criminal conspiracy and could face a de facto life sentence if convicted.