Sam Bankman-Fried pleaded not guilty to eight different counts of wire fraud, securities fraud, and conspiracy before a U.S. federal court in the Southern District of New York on Tuesday.
U.S. prosecutors allege that under Bankman-Fried’s direction, FTX, once considered one of the largest and most-trusted cryptocurrency exchanges, transferred billions in customer assets to his trading firm, Alameda Research.
If convicted of these charges, Bankman-Fried faces up to 115 years in prison.
A trial…
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