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A younger entrepreneur who made errors whereas working a crypto empire or a liar who stole and used folks’s cash to complement himself? Within the first hours of Sam Bankman-Fried’s six-week trial, that was the tone between his protection counsel and the prosecution.
The previous FTX CEO is going through a complete of seven expenses associated to fraud and conspiracy to commit fraud. He might spend over 100 years in jail if convicted of those expenses.
At trial, Bankman-Fried gave the impression to be targeted on his protection technique, continually checking his laptop computer and attorneys’ paperwork. As his protection counsel delivered a gap assertion, he turned his focus in the direction of the 12 jurors who will resolve if Bankman-Fried deliberately misused its clients’ cash or if errors have been made in good religion.
Associated: Sam Bankman-Fried FTX trial — 5 issues it is advisable know
Two witnesses testified on the primary day of the trial, Marc Juilliard, a French dealer who misplaced 4 Bitcoins price over $100,000 in November 2022, and Adam Yedidia, a private buddy of SBF and a former worker of Alameda and FTX.
FTX promoting campaigns, superstar endorsements, and SBF tweets have been among the many proof utilized by prosecutors to show that SBF lied to clients whereas defrauding them.
In response to the protection, nonetheless, there’s nothing fallacious with hiring Tom Brady for an commercial and submitting for chapter throughout a time of markets downturn.
The third day of the trial begins round 10:00 am in a federal courtroom in decrease Manhattan. It would characteristic Yedidia’s second testimony stint together with Gary Wang, FTX co-founder and a key witness within the case.
Cointelegraph is on the bottom in New York with the most recent updates on the trial. Observe stay updates right here.
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