Sam Bankman-Fried admits to ‘large mistakes’ in crypto fraud trial testimony

  • October 27, 2023
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Bankman-Fried says his biggest mistake was not implementing a dedicated risk management team for crypto trading platform FTX

Sam Bankman-Fried admitted to making management mistakes while at the helm of FTX, his former multibillion-dollar cryptocurrency empire, during testimony in his defense at trial.

Bankman-Fried’s testimony in front of a Manhattan jury on Friday came a day later than anticipated, after the judge overseeing the trial, Lewis Kaplan, unexpectedly sent jurors home on Thursday afternoon in order to determine which parts of Bankman-Fried’s testimony he would allow.

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