Federal prosecutors told jurors that Sam Bankman-Fried (SBF) lied to the world about FTX’s finances but confided in Ellison and his inner circle, while defense attorneys moved to shift the blame on Alameda’s former CEO and Bitcoin volatility during opening statements on trial day 2.

On day 1 of the voir dire, eight prospective jurors cited the 60 Minutes interview with author Michael Lewis. A handful referenced Bernie Madoff and one juror’s company lost money to FTX/Alameda.

18 jurors -12 primary and 6 alternates, were assigned from a pool of 50 potential candidates on Oct. 4, day 2 of the trial, according to InnerCityPress.

«It’s our boys big day, ” said pharma bro Martin Shkreli as he live-streamed his commute to SBF’s trial in lower Manhattan just as Judge Kaplan finalized jury selection around 11:30 am ET.

Shkreli once told Terraform founder Do Kwon that «jail isn’t that bad», on a podcast hours before FTX crashed on November 11, 2022. Kwon is now an international fugitive and wanted by U.S. authorities.

Prosecutors say SBF is guilty

Rehn’s opener journeyed through Bankman-Fried’s time as a crypto mogul with mainstream connections and celebrities in his pockets, whose time he allegedly bought with millions in stolen FTX customer deposits.

«He had wealth, he had power, he had influence. But it was built on lies, ” AUSA Rehn said, going on to add that SBF bolstered his facade by rubbing shoulders with DC policymakers while trying to shut the door behind on those he viewed as rivals.

The prosecutor argued that there were links between FTX and Sam’s hedge fund Alameda which he allegedly fully controlled despite appointing Caroline Ellison, his then-girlfriend, as CEO.

Caroline Ellison didn’t listen to Sam: SBF’s Cohen:

1. Rehn’s opener journeyed through Bankman-Fried’s time as a crypto mogul with mainstream connections and celebrities in his pockets, whose time he allegedly bought with millions in stolen FTX customer deposits.
2. Attorney Cohen pointed to SBF’s background in Wall Street, his math proficiency, and his disinterest in social norms like parties in an attempt to paint a different picture from the «cartoon villain» he says prosecutors have built up.
3. He insisted that loans to Alameda were transparent and by the book. «Alameda took big margin loans from FTX. Nothing wrong with that.» Cohen argued.