Marc-Antoine Julliard, a London-based cocoa beans trader, was the first witness to testify against Sam Bankman-Fried (SBF), the founder and former CEO of the bankrupt cryptocurrency exchange FTX. Julliard had invested $100,000 in the platform in 2021 and was left in limbo when it filed for bankruptcy in November 2022. During his testimony, Julliard said he had not participated in any of the platform’s lending, borrowing, or margin trading programs. He also said he was drawn to the platform due to its attachment to venture funds and celebrities, such as Gisele Bündchen and Formula 1.Adam Yedidia, a former trader and software engineer at FTX, was the prosecution’s second witness. He revealed that Alameda Research, FTX’s sister trading firm, had used FTX customer deposits to pay back creditors. Yedidia said he was concerned that he may have unintentionally written code that contributed to the crime.SBF’s lawyer, Mark Cohen, claims that his client did not defraud anyone and is trying to make customers accountable for their choices to buy and hold crypto.

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Information	Details
Geography	Europe
Countries	🇬🇧 🇺🇸 🇧🇷
Sentiment	negative
Relevance Score	8
People	Sam Bankman-Fried, Gisele Bündchen, Adam Yedidia, Marc-Antoine Julliard, Mark Cohen
Companies	Formula 1, Binance, FTX, Massachusetts Institute of Technology, Alameda Research
Currencies	US Dollar, FintruX, Ethereum, Bitcoin, British Pound
Securities	None