Crypto entrepreneur Sam Bankman-Fried was sentenced to 25 years in prison for a massive fraud that unraveled with the collapse of FTX, the massive crypto exchange.
One of the biggest fraud cases in American history came to a speedy end yesterday, with FTX’s Sam Bankman-Fried found guilty on 7 charges of fraud and conspiracy.
“There were red flags all over FTX,” said the New York Times’ David Yaffe-Bellany. “Even in the kind of renegade world of crypto, these sort of lessons from traditional finance still apply.”
Caroline Ellison, former head of trading firm Alameda Research, took to the stand in the fraud trial against Sam Bankman-Fried. Plus, we unpack September’s fresh inflation numbers.