Bankman-Fried's lawyer says 'crypto was not for everyone.' FTX said the opposite

Bankman-Fried, 31, has pleaded not guilty to two counts of fraud and five counts of conspiracy over the collapse of FTX

FTX founder Sam Bankman-Fried leaves Federal court, July 26, 2023, in New York. Jury selection begins Tuesday, Oct. 3 in a case in which the 31-year-old crypto mogul faces the possibility of a long prison term if convicted. (AP Photo/Mary Altaffer, File)

In his opening statement at Sam Bankman-Fried's fraud trial on Wednesday, the FTX cryptocurrency exchange founder's lawyer acknowledged that his client was in a risky business, noting that "crypto was not for everyone."

But FTX had asserted the opposite in an online post about a car race it sponsored in Miami Beach, Florida, six months before its November 2022 collapse.