The cryptocurrency market is starting to bounce back a year after the collapse of exchange FTX and other big players in 2022 crushed prices, tarnished the industry and prompted a regulatory crackdown.
Sam Bankman-Fried, the former CEO of FTX, stands trial in New York on Tuesday, charged with seven counts of fraud and conspiracy stemming from the exchange s abrupt collapse in November 2022. He has pleaded not guilty.
Prosecutors say Bankman-Fried embezzled customer money to plug losses at Alameda Research, a crypto hedge fund he owned, as well as to make investments, buy real estate in the Bahamas, and donate to US political campaigns.
NEW YORK, Nov 2 ― FTX founder Sam Bankman-Fried's defence lawyer told jurors yesterday that prosecutors in his fraud trial sought to portray him as a “villain” and a.