SBF's lawyers argued that there is no trust relationship between FTX and its clients to refute the allegations of fraud

ChainCatcher news, according to Bitcoin.com, Sam Bankman-Fried's lawyers are trying to tell the jury that under the UK law governing the terms of service of FTX, there is no trust relationship between FTX and its customers, in order to counter the government's claim that SBF engaged in a "scheme to defraud customers by misappropriating deposits."

SBF's lawyers argue that "the terms of service do not use terms like 'trust,' 'trust property,' or 'beneficial interest,'" and any language regarding trust obligations explicitly denies such a relationship.