ftx

Sam Bankman-Fried was found guilty of seven counts of fraud and conspiracy. Insider reporter Jacob Shamsian fills you in on how the former crypto billionaire got here.

Sam Bankman-Fried is guilty on all seven federal charges in his criminal trial for defrauding customers of his crypto exchange out of billions of dollars with his crypto empire, jurors decided on Thursday night in a Southern District of New York court, Reuters

Sam Bankman-Fried testified before a jury for the first time on Friday saying he did not defraud FTX customers or take their funds, according to Bloomberg’s live reporting of the trial.

The founders of cryptocurrency exchanges face a mountain of regulatory challenges and billions in personal losses.

FTX founder Sam Bankman-Fried testified in his fraud trial Thursday with no jury present.