London-based cocoa bean trader Marc-Antoine Julliard became the first witness to lose $100,000 to collapsed cryptocurrency exchange FTX, testifying at the beginning of his trial against the exchange's founder and former CEO Sam Bankman-Fried (SBF). 🏛️
When Julliard decided to diversify into crypto trading in 2021, he chose FTX and remained an unaggressive trader when the platform crashed in November 2022, according to a CNBC report. 💸
Julliard said he felt "extremely anxious" the day he tried to withdraw some of the $100,000 worth of cryptocurrency he had stored on FTX, and was left in limbo along with thousands of other customers when the company filed for bankruptcy. ⚠️
The defense attempted to explain to the jury that FTX customers believed their assets were safe on the platform while SBF and its partners misappropriated funds. However, SBF's attorney, Mark Cohen, claimed that his client was not defrauding anyone and was trying to hold customers accountable for their choices to buy and hold crypto. 🚨
When Julliard decided to diversify into crypto trading in 2021, he chose FTX and remained an unaggressive trader when the platform crashed in November 2022, according to a CNBC report. 💸
Julliard said he felt "extremely anxious" the day he tried to withdraw some of the $100,000 worth of cryptocurrency he had stored on FTX, and was left in limbo along with thousands of other customers when the company filed for bankruptcy. ⚠️
The defense attempted to explain to the jury that FTX customers believed their assets were safe on the platform while SBF and its partners misappropriated funds. However, SBF's attorney, Mark Cohen, claimed that his client was not defrauding anyone and was trying to hold customers accountable for their choices to buy and hold crypto. 🚨