Home Cryptocurrency Cocoa dealer testifies to Bitcoin holdings on FTX in Sam Bankman-Fried trial

Cocoa dealer testifies to Bitcoin holdings on FTX in Sam Bankman-Fried trial

Cocoa dealer testifies to Bitcoin holdings on FTX in Sam Bankman-Fried trial


The prosecuting attorneys within the felony case in opposition to former FTX CEO Sam Bankman-Fried, also called SBF, have began to name witnesses.

In line with an Oct. 4 X (previously Twitter) thread by Internal Metropolis Press, the Assistant United States Attorneys offered testimony from a London-based cocoa dealer named Marc-Antoine Julliard who used FTX for crypto buying and selling. Julliard spoke on studying concerning the crypto change from a good friend, seeing commercials for the agency by Gisele Bündchen, and utilizing the FTX cellular app for buying and selling cryptocurrencies together with Dogecoin (DOGE).

In testimony earlier than the court docket, the cocoa dealer stated he had 4 Bitcoin (BTC) value roughly $80,000 on the time he was unable to withdraw from FTX in November 2022, following a Twitter publish from Bankman-Fried that “belongings have been effective”. SBF’s authorized group reportedly requested Julliard whether or not he had had contact with FTX previous to his testimony, and the explanations behind his crypto funding.

Among the many witnesses anticipated to testify at trial are former Alameda Analysis CEO Caroline Ellison, FTX co-founder Gary Wang, former FTX engineering director Nishad Singh, former FTX chief working officer Constance Wang and SkyBridge Capital co-founder Anthony Scaramucci. It’s unclear whether or not Bankman-Fried intends to take the stand himself.

Associated: FTX-SBF fees legitimate regardless of lack of US crypto legal guidelines, DOJ says

Decide Lewis Kaplan accomplished jury choice the morning of Oct. 4, whereupon protection legal professionals and prosecutors started opening arguments within the felony trial. Assistant U.S. Lawyer claimed SBF had lied to FTX customers, lawmakers, and the general public concerning the monetary state of the corporate, as the previous CEO’s protection group partly positioned blame on Caroline Ellison.

Bankman-Fried faces 7 felony fees associated to the misuse of FTX buyer funds in his first trial, for which he has pleaded not responsible. He’ll face 5 further fees in a second trial scheduled for March 2024.

Journal: Are you able to belief crypto exchanges after the collapse of FTX?