Sudden bankruptcy in November 2022 cryptocurrency stock exchange FTXIt caused a major collapse in the market and investors suffered huge losses.
While FTX’s bankruptcy had a shocking effect on the market, its founder Sam Bankman Fried was arrested. Detained since then SBFtestifies in court about the accusations against him.
At this point, SBF, who started testifying before the jury members who will decide on the fraud and conspiracy charges against him today, started his statement by stating that he made many mistakes.
“I made a lot of mistakes at FTX. I made some small mistakes and some big mistakes at FTX. My biggest mistake was that there was no risk chief at FTX.
“Many people were harmed by these mistakes.”
SBF’s lawyer asked SBF some questions. Cohen asked his client, SBF, if he had defrauded anyone and taken client funds.
Bankman-Fried, “No, I didn’t defraud anyone. No, I did not receive client funds.” said.
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