Sam Bankman-Fried, co-founder of the failed crypto exchange FTX, has been sentenced to 25 years in prison for defrauding customers and investors of his now-bankrupt firm. The ruling cements the downfall of the former billionaire, who emerged as a high profile champion of crypto before his firm’s dramatic collapse in 2022. He was found to […]
Tag: Sam Bankman-Fried
Sam Bankman-Fried ‘Guilty’ faces decades in jail
Sam Bankman-Fried, who once ran one of the world’s biggest cryptocurrency exchanges, has been found guilty of fraud and money laundering at the end of a month-long trial in New York. The jury delivered its verdict after less than five hours of deliberations. It concludes a stunning fall from grace for the 31-year-old former billionaire, […]
Sam Bankman-Fried arrives in US to face charges
Sam Bankman-Fried, former boss of failed cryptocurrency exchange FTX, has arrived by plane in New York from the Bahamas to face fraud charges. The 30-year-old was extradited on suspicion of committing “one of the biggest financial frauds in US history”, US authorities have said. Mr Bankman-Fried, who denies the allegations, may appear in court later […]
FTX investors fear they lost everything, they most likely have
FTX spent big money to make trading crypto popular and gain people’s trust. The company had an arena in Miami named after it and aired scores of TV commercials with superstars like Tom Brady and Steph Curry. “I’m not an expert and I don’t need to be,” NBA champion Curry says in one ad. “With […]