From Investing.com: 2024-03-28 15:11:16

In a dramatic turn of events, Sam Bankman-Fried, founder of FTX cryptocurrency exchange, is sentenced to 25 years in prison for fraud. The saga begins in 2017 when Bankman-Fried leaves his job to launch Alameda Research. FTX is founded in May 2019, raising $420 million in October 2021, and Bankman-Fried becomes a billionaire. Trouble starts in November 2022 with leaked balance sheet revelations and bankruptcy filings, leading to his arrest in December 2022. After a trial in October 2023, he is convicted of all charges. Finally, on March 28, 2024, Bankman-Fried is sentenced to 25 years in prison by Judge Lewis Kaplan.

Read more at Investing.com: Events leading up to FTX founder Sam Bankman-Fried’s 25-year sentence By Reuters