Bankman-Fried Fraud Trial Kicks Off With Opening Statements and First Witnesses in $10B+ Crypto Collapse

Sam Bankman-Fried's fraud trial over the collapse of crypto exchange FTX began in New York with opening statements and first witness testimony.

Prosecution alleges Bankman-Fried stole $10B+ from FTX customers through fraud and misuse of funds. Defense says he didn't defraud anyone.

First witness Marc-Antoine Julliard lost $100k on FTX. Said he trusted platform due to marketing and backers.

Caroline Ellison, Bankman's ex-girlfriend and former Alameda CEO, is expected to testify against him as star witness.

Second witness Adam Yedidia, a former developer at FTX, testified under immunity about codes he may have unwittingly written that enabled crimes.