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

ChainCatcher news, according to CoinDesk, the U.S. Department of Justice (DOJ) stated in the opening remarks of the trial of FTX founder SBF that SBF's entire cryptocurrency empire is a "house of cards" built "on lies." SBF's defense team countered that SBF's actions were made in good faith, and that the rapid growth and subsequent collapse of his business were not his fault. They attributed part of the responsibility to Caroline Ellison, stating that she failed to take protective measures. Ellison has already pleaded guilty and will testify during the trial. The criminal trial against SBF, who is accused of fraud and conspiracy, began on Wednesday at 12:30 PM in New York. U.S. Assistant Attorney Nathan Rehn told the 12-member jury that the government would provide evidence and expert witnesses to prove that SBF "lied to customers" and used their funds to buy "money, power, and influence."