In 2017, Sam Bankman-Fried started a cryptocurrency hedge fund, setting off a sequence of events that culminate on Tuesday in his trial for what federal prosecutors have called one of the biggest financial frauds in US history.
On Tuesday, the founder of the failed FTX digital currency exchange is set to leave the jail where he has been confined for more than seven weeks and stand trial in a Manhattan courtroom on federal charges of fraud and money laundering, capping one of the largest and swiftest corporate collapses in decades.
Eleven months after FTX s implosion sent an already declining cryptocurrency market into a doom spiral, Bankman-Fried s trial is set to reopen wounds that have barely had time to heal in the crypto industry.