'Crypto King' Sam Bankman-Fried guilty of FTX fraud

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Added 6 months ago by XaniaNews

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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 just four hours of deliberations.

It concludes a stunning fall from grace for the 31-year-old former billionaire and one of the most public faces of the crypto industry.

Bankman-Fried was arrested last year after his firm, FTX, went bankrupt.

He had pleaded not guilty to all the charges, maintaining that, while he had made mistakes, he had acted in good faith.

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Category: News and politics
Tags: bbc, bbc news, news

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