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Fortune

Leo Schwartz

Sam Bankman-Fried blames everyone but himself for FTX’s approach to risk management, including a trillion-dollar trading disaster

Sam Bankman-Fried FTX Gary Wang Nishad Singh Alameda Caroline Ellison Sam Trabucco Lewis Kaplan Mark Cohen

(Credit: Jane Rosenberg—Reuters)

After months of legal jockeying and three weeks of testimony, Sam Bankman-Fried finally had the opportunity to tell a jury how his crypto exchange collapsed—and why he shouldn't be held criminally responsible.

After an unusual hearing without jurors present on Thursday, which saw the FTX founder put on a disastrous performance under cross-examination by Department of Justice prosecutors, he got a do-over on Friday.

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