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Home > World Business Report > ‘Crypto King’ Sam Bankman-Fried found guilty
Podcast: World Business Report
Episode:

‘Crypto King’ Sam Bankman-Fried found guilty
Category: Business
Duration: 00:27:13
Publish Date: 2023-11-03 16:11:00
Description: 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, once known as the "King of Crypto", who now faces decades in jail. Bankman-Fried was arrested last year after his firm, FTX, went bankrupt. His sentencing has been set for 28 March next year. Cryptocurrency exchange FTX was once valued at $32bn (£26bn), but when it went bankrupt in November last year $8bn in customer funds was missing.
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