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FTX fraud exposure under Sam Bankman-Fried has cast long shadow on crypto industry: market watchers

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Prosecutors allege that Sam Bankman-Fried committed one of the biggest acts of fraud in American history — If he’s found guilty of fraud and conspiracy, the FTX founder is facing a maximum prison sentence of 110 years.

Up until his crypto exchange filed for bankruptcy last November, Bankman-Fried was a key figure lobbying U.S. legislators to legitimize the use of crypto.

But market watchers say Bankman-Fried’s meteoric rise and subsequent fall from grace has ultimately hurt the crypto industry.

Nivrita Ganguly has more.

For more info, please go to https://globalnews.ca/news/10001441/sam-bankman-fried-trial-charges-ftx/

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Category
U.S. & Canada
Tags
global news, Sam Bankman-Fried, Sam Bankman-Fried trial
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