From Fortune:

Cryptocurrency mogul Sam Bankman-Fried will not face a second trial after being convicted of fraud. His sentencing is set for March 28, with the possibility of years in prison. The prosecution will drop additional charges to expedite the case and consider evidence already presented in the original trial.

Bankman-Fried is accused of transferring FTX customer money into a hedge fund for risky investments, political donations, and real estate before both companies collapsed. The guilty verdict is a landmark victory for Manhattan US Attorney Damian Williams, marking the highest-profile prosecution in the world of cryptocurrency. Bankman-Fried’s decline is stark, compared to FTX’s $32 billion valuation in early 2022.



Read more: Convicted crypto-fraudster Sam Bankman-Fried won’t face a second trial on remaining charges that include conspiracy to bribe foreign officials