The Crypto Fraud Case Against Bankman-Fried and FTX: QuickTake

Sam Bankman-Fried’s FTX crypto empire collapsed in November 2022, and about a month later he was arrested in the Bahamas and accused of fraud and bilking investors and customers out of billions of dollars — allegations he’s denied. In a New York court, Bankman-Fried portrayed himself as a well-intentioned if hapless chief executive; someone who made calamitous mistakes but never knowingly committed fraud. Prosecutors didn’t buy it. Now, it’s up to the jury to decide what’s next for SBF.

1. What was FTX?

What started out as a trading venture focused on digital assets grew into a sprawling crypto ...