The trial of Sam Bankman-Fried, founder and former CEO of the now-bankrupt cryptocurrency exchange FTX, has begun with the first witness, Marc-Antoine Julliard, testifying against him. Julliard, a London-based cocoa beans trader, lost $100,000 on FTX and recounted his experience of being unable to withdraw his funds before the platform's collapse. He stated that he had not participated in any lending, borrowing, or margin trading programs offered by FTX and was attracted to the platform due to its association with venture funds and celebrities.
The prosecution's second witness, Adam Yedidia, a former software engineer at FTX, revealed that he left the exchange after learning that customer deposits were used to pay back creditors. SBF's lawyer, Mark Cohen, maintains that his client did not defraud anyone and is attempting to hold customers accountable for their choices to buy and hold crypto.
The prosecution's second witness, Adam Yedidia, a former software engineer at FTX, revealed that he left the exchange after learning that customer deposits were used to pay back creditors. SBF's lawyer, Mark Cohen, maintains that his client did not defraud anyone and is attempting to hold customers accountable for their choices to buy and hold crypto.