Sam Bankman-Fried's conviction. On Thursday, the FTX founder was convicted of stealing billions of dollars from customers of his crypto exchange, marking one of the largest financial fraud convictions in U.S. history. After a short deliberation, a New York federal jury convicted Bankman-Fried on all seven counts he faced. He was also found guilty of money laundering and defrauding investors and lenders to FTX's sister company, a hedge fund called Alameda Research.
"SBF," as Bankman-Fried is commonly known, will face sentencing March 28, 2024 and could serve decades of prison time.
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