Sam Bankman-Fried inner circle to testify today

A young entrepreneur who made mistakes portion moving a crypto empire oregon a liar who stole and utilized people's wealth to enrich himself? In the archetypal hours of Sam Bankman-Fried's six-week trial, that was the code betwixt his defence counsel and the prosecution.

The erstwhile FTX CEO is facing a full of 7 charges related to fraud and conspiracy to perpetrate fraud. He could walk implicit 100 years successful situation if convicted of these charges.

At trial, Bankman-Fried appeared to beryllium focused connected his defence strategy, perpetually checking his laptop and attorneys' paperwork. As his defence counsel delivered an opening statement, helium turned his absorption towards the 12 jurors who volition determine if Bankman-Fried intentionally misused its customers' wealth oregon if mistakes were made successful bully faith.

Related: Sam Bankman-Fried FTX proceedings — 5 things you request to know

Two witnesses testified connected the archetypal time of the trial, Marc Juilliard, a French trader who mislaid 4 Bitcoins worthy implicit $100,000 successful November 2022, and Adam Yedidia, a idiosyncratic person of SBF and a erstwhile worker of Alameda and FTX.

FTX advertizing campaigns, personage endorsements, and SBF tweets were among the grounds utilized by prosecutors to beryllium that SBF lied to customers portion defrauding them.

According to the defense, however, there's thing incorrect with hiring Tom Brady for an advertisement and filing for bankruptcy during a clip of markets downturn.

The 3rd time of the proceedings begins astir 10:00 americium successful a national tribunal successful little Manhattan. It volition diagnostic Yedidia's 2nd grounds stint on with Gary Wang, FTX co-founder and a cardinal witnesser successful the case.

Cointelegraph is connected the crushed successful New York with the latest updates connected the trial. Follow unrecorded updates here.