Sam Bankman-Fried, the former cryptocurrency mogul, has been found guilty on all seven counts of fraud and conspiracy. The verdict comes after a high-profile trial centering on the collapse of the FTX cryptocurrency exchange, which Bankman-Fried founded.
The charges include wire fraud, securities fraud, and money laundering, with the potential for a maximum sentence of 115 years in prison. The jury’s decision marks a significant fall for Bankman-Fried, who was once a prominent figure in the crypto world. His conviction underscores the risks and volatility associated with the cryptocurrency market and raises questions about the future of digital currencies.