The co-founder of the FTX crypto exchange could be sentenced to up to 115 years in prison.
NEW YORK — A jury on Thursday convicted FTX co-founder Sam Bankman-Fried of fraud, conspiracy and money laundering, the culmination of a month-long trial that saw the former crypto mogul take the stand in his own defense after his inner circle of friends-turned-deputies provided damning testimony against him.
FTX customers will not fully recover their money, the company’s new CEO, John J. Ray III, told the House Financial Services Committee. But the most damaging testimony arguably came from Bankman-Fried himself. The disgraced crypto mogul traded the chance to tell his side of the story one final time for a gutting cross examination by prosecutor Danielle Sassoon. She used Bankman-Fried’s own words, including from a whirlwind set of interviews he gave in the wake of his empire’s collapse, to expose what the prosecution described as a steady stream of lies.
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