A younger entrepreneur who made errors whereas operating a crypto empire or a liar who stole and used individuals’s cash to enrich himself? In the primary hours of Sam “SBF” Bankman-Fried’s six-week trial, that was the tone between his protection counsel and the prosecution.
The former FTX CEO is going through a complete of seven prices associated to fraud and conspiracy to commit fraud. He might spend over 100 years in jail if convicted.
At the trial, SBF appeared to be targeted on his protection technique, always checking his laptop computer and attorneys’ paperwork. As his protection counsel delivered a gap assertion, he turned his focus towards the 12 jurors who will resolve if SBF deliberately misused FTX buyer funds or if errors have been made in good religion.
Related: Sam Bankman-Fried FTX trial — 5 things you need to know
Two witnesses testified on the primary day of the trial: Marc Juilliard, a French dealer who misplaced 4 Bitcoin (BTC) price over $100,000 in November 2022, and Adam Yedidia, a private pal of SBF and a former worker of Alameda Research and FTX.
FTX promoting campaigns, movie star endorsements and SBF’s tweets are among the many proof being utilized by prosecutors to show that SBF lied to clients whereas defrauding them.
According to the protection, nevertheless, there’s nothing improper with hiring Tom Brady for an commercial and submitting for chapter throughout a market downturn.
The third day of the trial begins round 10:00 am Eastern Time in a federal courtroom in decrease Manhattan, New York City. It will function Yedidia’s second look within the trial, in addition to FTX co-founder Gary Wang, who’s a key witness.
Cointelegraph is on the bottom in New York with the most recent updates on the trial. Follow live updates here.
