The US Department of Justice: SBF's entire crypto empire is a "house of cards built on lies".

According to BlockBeats news on October 5, the US Department of Justice (DOJ) stated in the opening statement of FTX founder SBF's trial that SBF's entire cryptocurrency empire was a "house of cards built on lies", as reported by CoinDesk. In his opening statement, SBF's defense lawyer argued that FTX and Alameda Research founder SBF never intended to steal customers' funds - he was simply overwhelmed by the rapid growth of the two companies and acted in good faith, without deceiving anyone. The criminal trial on SBF's fraud and conspiracy charges began at 12:30 pm New York time on Wednesday. US Assistant Prosecutor Nathan Rehn told the jury of 12 members that the government would provide evidence and expert witnesses to prove that the former crypto tycoon "defrauded his customers" and used their funds to purchase "money, power, and influence".