Sam Bankman-Fried once promoted his FTX digital coin exchange as a safe way for regular people to get into cryptocurrency.
File - Sam Bankman-Fried leaves Manhattan federal court in New York on Feb. 16, 2023. The fraud trial of Bankman-Fried, the founder of failed cryptocurrency brokerage FTX, begins Tuesday with jury selection. , a tech wunderkind who once promoted his FTX digital coin exchange as a safe way for regular people to get into cryptocurrency, faces the start of a criminal trial over allegations that he cheated thousands of customers.
U.S. Attorney Damian Williams, who is overseeing the prosecution, has called it one of the biggest frauds in the country's history. He has blamed FTX's collapse last November, in something equivalent to an old-fashioned bank run, on vindictive competitors, his own inattentiveness and fellow executives who he said failed to manage risk properly.
As recently as early last fall, Bankman-Fried portrayed himself as a stabilizing force in the cryptocurrency industry. He spent millions of dollars on celebrity advertisements during the 2022 Super Bowl that promoted FTX as the “safest and easiest way to buy and sell crypto” and “the most trusted way to buy and sell” digital assets.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
FTX Founder Sam Bankman-Fried's trial begins Tuesday with jury selectionFor a while, Sam Bankman-Fried tried to convince politicians and the public that he was the next J.P. Morgan. Now, he has to convince a jury that he wasn't, in reality, the next Bernie Madoff.
Baca lebih lajut »
Trial of former FTX head Sam Bankman-Fried set to begin TuesdayBankman-Fried, who once promoted himself as the ethical face of cryptocurrencies, faces multiple fraud and money laundering charges.
Baca lebih lajut »
Will upcoming trial final let crypto forget Sam Bankman-Fried?With SBF's trial about to start, The Block had a few questions we assume you might share. We did our best to answer them.
Baca lebih lajut »
As trial looms, Sam Bankman-Fried’s own words may pose his biggest riskThe founder of FTX is accused of bilking customers and investors out of billions of dollars in the 2022 collapse of his cryptocurrency empire.
Baca lebih lajut »
Sam Bankman-Fried opposes Ukraine FTX victim testifying remotely, lawyers tell trial judgeThe former FTX CEO's criminal trial is due to begin on Tuesday.
Baca lebih lajut »
The Star Witness at Sam Bankman-Fried’s Trial: His Top Deputy and Ex-GirlfriendCaroline Ellison’s testimony has the potential to be particularly personal and raw
Baca lebih lajut »