Sam Bankman-Fried once faced 13 criminal charges relating to his massive fraud scheme at the crypto exchange FTX. However, he’ll only face consequences for the seven charges he was found guilty of in November.
Sam Bankman-Fried may be headed to prison but the story of FTX is far from over. Like an evil spirit, the exchange seems destined to haunt the crypto community for the rest of its days.
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.
FTX Trading is examining restarting the crypto exchange with three bidders, according to a Bloomberg report Tuesday.
The trial of FTX founder Sam Bankman-Fried reached its halfway point, and a flurry of incriminating evidence, emotional testimonies, and odd tales have surfaced in the last three weeks.
A forensic accountant at Sam Bankman-Fried’s trial tried piecing together where $9 billion of missing FTX customer funds went on Wednesday. “Oh, yes,” said the accountant when asked if FTX ever misused customer funds.
Sam Bankman-Fried’s defense team requested a higher, longer-lasting dose of Adderall on Sunday night, so their client can meaningfully participate in his ongoing trial.