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Fortune

Ben Weiss

Is Sam Bankman-Fried a bad ‘man’ or a good ‘boy’? Lawyers swap opening statements before first witnesses take the stand

Sam Bankman-Fried FTX Damian Williams Adam Yedidia Alameda Caroline Ellison Crypto Mark Cohen MIT New York

Damian Williams, U.S. attorney for the Southern District of New York, left, exits the courthouse where Sam Bankman-Fried is being tried. (Credit: Yuki Iwamura—Bloomberg/Getty Images)

Who is Sam Bankman-Fried, the former CEO of the crypto exchange FTX? Is he a liar and a fraud? Or did he act in good faith, and like many a startup founder, fly too close to the sun?

That answer ultimately lies with the jury, which was selected on Wednesday morning before lawyers for the government and then Bankman-Fried swapped two very different stories of the former crypto mogul’s sudden rise and almost instantaneous fall.

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