FTX founder Sam Bankman-Fried has begun testifying at his fraud trial, saying the innovative business he had hoped would move the cryptocurrency ecosystem forward ended up hurting customers instead. The onetime cryptocurrency golden boy lost his businesses and his reputation as a pioneering entrepreneur when a rush of customers withdrew their money last year, exposing that billions of dollars were missing. His much-anticipated testimony Friday became the centerpiece of a defense that insists Bankman-Fried had no criminal intent as he took actions that prosecutors say were directly to blame for the collapse last November of Bankman-Fried's businesses.
