Former cryptocurrency billionaire Sam Bankman-Fried has testified at his fraud trial. Hereโ€™s what he said

Former billionaire Sam Bankman-Fried is currently on trial for fraud in New York.

He is accused of stealing billions from clients of his cryptocurrency fund to pay the bills of his other companies.

The case shocked the financial sector and saw it arrested in the bahamas before being extradited to the United States.

The saga continues to unfold in a Manhattan courtroom, with the FTX founder giving his long-awaited version of events.

Here are the key moments of his testimony.

Who is Sam Bankman-Fried and what is he accused of?

He was the founder of a cryptocurrency exchange called FTX which, at one time, was the second largest cryptocurrency exchange in the world.

The 31-year-old man was once one of the richest people in the world on paperwith an estimated net worth of $32 billion, when his cryptocurrency businesses collapsed last November.

FTX collapsed when a run on deposits and falling cryptocurrency prices left the company with an $8 billion deficit.

Former FTX CEO Sam Bankman-Fried has pleaded not guilty to fraud charges.(Reuters: /Eduardo Muรฑoz/Archive )

Mr. Bankman-Fried is accused of stealing billions of dollars in FTX client funds to cover losses at his cryptocurrency-focused hedge fundAlameda Research.

He faces criminal charges including wire fraud, money laundering and conspiracy to commit fraud in the United States.

He pleaded not guilty to all charges, arguing that while he made mistakes when running FTX, he never intended to steal funds.

If convicted, Bankman-Fried could face decades in prison.

What has Sam Bankman-Fried said in his defense?

In her first day of testimony on Friday, Bankman-Fried said that "a lot of people were hurt" when the cryptocurrency exchange collapsed last year, but insisted that it did not defraud anyone or steal billions of dollars from customers.

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