Marc-Antoine Juilliard, a London-based cocoa trader who lost $100,000 on the failed crypto exchange FTX, has become the first witness in the trial against FTX founder and former CEO Sam Bankman-Fried (SBF). Juilliard chose FTX in 2021 to diversify his cryptocurrency investments and remained a low-profile trader until the platform's collapse in November 2022. 📉
During his testimony, Juliard said he felt "extremely anxious" the day he tried to withdraw some of his $100,000 in cryptocurrency stored at FTX but was unable to, leaving him in limbo along with thousands of other customers after the company filed for bankruptcy. He stated that he never participated in the lending, borrowing or leverage trading program offered by FTX. 🚫
Juilliard helped the prosecution build the narrative of his opening statement, explaining to jurors that FTX's clients were reassured that their assets were safe on the platform while SBF and his co-conspirators were embezzling the funds. At the same time, SBF's lawyer, Mark Cohen, maintains that his client did not deceive anyone and is trying to hold clients accountable for their decisions to buy and hold cryptocurrencies. 🤷♂️
During his testimony, Juliard said he felt "extremely anxious" the day he tried to withdraw some of his $100,000 in cryptocurrency stored at FTX but was unable to, leaving him in limbo along with thousands of other customers after the company filed for bankruptcy. He stated that he never participated in the lending, borrowing or leverage trading program offered by FTX. 🚫
Juilliard helped the prosecution build the narrative of his opening statement, explaining to jurors that FTX's clients were reassured that their assets were safe on the platform while SBF and his co-conspirators were embezzling the funds. At the same time, SBF's lawyer, Mark Cohen, maintains that his client did not deceive anyone and is trying to hold clients accountable for their decisions to buy and hold cryptocurrencies. 🤷♂️