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

Turner Wright4 hours agoCocoa broker testifies to Bitcoin holdings on FTX in Sam Bankman-Fried trialLondon-based cocoa broker Marc-Antoine Julliard responded to questions from prosecutors on crypto he held on FTX in November 2022.1154 Total views4 Total sharesListen to article 0:00NewsJoin us on social networksThe prosecuting attorneys in the criminal case against former FTX CEO Sam Bankman-Fried, also known as SBF, have started to call witnesses.

According to an Oct. 4 X (formerly Twitter) thread by Inner City Press, the assistant United States attorneys presented testimony from a London-based cocoa broker named Marc-Antoine Julliard, who used FTX for crypto trading. Julliard spoke on learning about the crypto exchange from a friend, seeing advertisements for the firm by Gisele Bündchen, and using the FTX mobile app for trading cryptocurrencies including Dogecoin (DOGE). 

In testimony before the court, the cocoa broker said he had 4 Bitcoin (BTC), worth roughly $80,000 at the time, that he was unable to withdraw from FTX in November 2022, following a Twitter post from Bankman-Fried that “assets were fine.” SBF’s legal team reportedly asked Julliard whether he had had contact with FTX prior to his testimony and the reasons behind his crypto investment.

Among the witnesses expected to testify at trial are former Alameda Research CEO Caroline Ellison, FTX co-founder Gary Wang, former FTX engineering director Nishad Singh, former FTX chief operating officer Constance Wang and SkyBridge Capital co-founder Anthony Scaramucci. It’s unclear whether Bankman-Fried intends to take the stand himself.We decided to illustrate the lead-up to @SBF_FTX's trial. Here’s Bankman-Fried's life in the slammer. From mirror monologues to peanut butter banquets, the fall is real. pic.twitter.com/v73IA6d5l2— Cointelegraph (@Cointelegraph) October 3, 2023

Related:FTX-SBF charges valid despite lack of US crypto laws, DOJ says

Judge Lewis Kaplan completed jury selection the morning of Oct. 4, whereupon defense lawyers and prosecutors began opening arguments in the criminal trial. Assistant U.S. Attorney Thane Rehn claimed SBF had lied to FTX users, lawmakers, and the public regarding the financial state of the company, while the former CEO’s defense team partly placed blame on Caroline Ellison.

Bankman-Fried faces seven criminal charges related to the misuse of FTX customer funds in his first trial, for which he has pleaded not guilty. He will face five additional charges in a second trial scheduled for March 2024.

Magazine:Can you trust crypto exchanges after the collapse of FTX?# Law# Court# Crimes# Sam Bankman-Fried# FTX# RegulationAdd reactionAdd reactionRead moreHow to actually spend your Bitcoin, ExplainedHow are crypto firms responding to US regulators’ enforcement actions?Expect new crypto regulations to follow Bitcoin ETFs