SBF Denies Fraud But Admits Mistakes in FTX Management as Prosecution Portrays Him as Criminal Mastermind

Sam Bankman-Fried took the stand and denied committing fraud or taking customer funds. He admitted to making mistakes in FTX's management.

Prosecutors have portrayed SBF as a criminal mastermind who squandered $10 billion of customer funds. His lawyers say he's a "math nerd" who lacked business experience.

Caroline Ellison, former Alameda CEO, testified SBF directed her to commit crimes and took $10 billion from FTX to prop up Alameda.

Ellison's testimony contradicts what SBF may say on the stand about siphoning funds and directing illegal activity.

SBF pleaded not guilty to wire fraud, money laundering, and conspiracy charges related to FTX's collapse. His testimony will allow jurors to decide which version of events to believe.