Sam Bankman-Fried, the former CEO of FTX, is currently facing a six-week trial with seven charges related to fraud and conspiracy to commit fraud. If convicted, he could face over 100 years in prison. On the first day of the trial, Bankman-Fried’s defense counsel delivered an opening statement to the 12 jurors who will decide his fate. Two witnesses, Marc Juilliard and Adam Yedidia, testified on the first day. Prosecutors used evidence such as FTX advertising campaigns, celebrity endorsements, and SBF tweets to prove that SBF lied to customers while defrauding them. The defense argued that there was nothing wrong with hiring Tom Brady for an advertisement and filing for bankruptcy during a time of markets downturn. The third day of the trial will feature Yedidia’s second testimony stint along with Gary Wang, FTX co-founder and a key witness in the case. Follow live updates of the trial here.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	8
People	Marc Juilliard, Sam Bankman-Fried, Tom Brady, Gary Wang, Adam Yedidia
Companies	Federal Court, Tom Brady, Manhattan, FTX, Alameda
Currencies	french franc, US Dollar, Ethereum, Bitcoin, TOM Finance
Securities	None