CoinVoice has recently learned that on October 5, according to CoinDesk, the U.S. Department of Justice (DOJ) stated in the opening statement of the trial of FTX founder SBF that SBF’s entire cryptocurrency empire is a "house of cards built on lies."

SBF’s defense attorneys argued in their opening statements that SBF, the founder of FTX and Alameda Research, never intended to steal clients’ funds — he was simply overwhelmed by the meteoric growth of both businesses, and that SBF acted in good faith and did not defraud anyone.

SBF's criminal trial on fraud and conspiracy charges began at 12:30 p.m. New York time on Wednesday. Assistant U.S. Attorney Nathan Rehn told the 12-member jury that the government will present evidence and expert witnesses to prove that the former crypto tycoon "defrauded his clients" and used their funds to buy himself "money, power and influence." [Original link]