Sam Bankman-Fried's fraud trial, which is set to kick off on Tuesday, marks the culmination of a yearlong legal saga stemming from the dramatic collapse of the FTX cryptocurrency exchange he founded.
Bankman-Fried, a Massachusetts Institute of Technology graduate, quits his job as a quantitative trader at Jane Street Capital and launches Alameda Research, a trading firm focused on cryptocurrency.on the Forbes billionaires list, which estimates his net worth at $22.5 billion. The magazine's assessment of his wealth would rise to $26 billion by the end of the year.
After FTX sees $6 billion in customer withdrawals in three days, Binance boss Changpeng Zhao says the company has signed a nonbinding agreement toDavid and other FTX celebrity promoters, including NFL quarterback Tom Brady, are sued over claims they engaged in deceptive practices. The celebrities have said the suit should be dismissed, arguing they did not cause FTX investors' losses.in the Bahamas, where he lives and where FTX is based. The U.S.
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