Sam Bankman-Fried Will Plead Not Guilty to Fraud Charges, Faces 115 Years if Convicted


FTX founder Sam Bankman-Fried will reportedly plead not guilty to fraud charges related to the collapse of the crypto exchange last year. He is accused of defrauding investors and misusing billions of dollars from the exchange, including using customer deposits for his own purposes. Bankman-Fried is set to appear in court on Tuesday to enter his plea. If convicted, he could face up to 115 years in prison. The former CEO of Alameda Research, Caroline Ellison, has already pleaded guilty and agreed to cooperate with investigators.

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