Disgraced cryptocurrency entrepreneur Sam Bankman-Fried was convicted in his fraud trial at the beginning of November. A jury in New York found him guilty on seven counts. The sentencing will not be decided until March next year, but he could face a sentence of more than 100 years in prison.
After graduating from university, Mr Bankman-Fried worked as a cryptocurrency trader at the brokerage firm Jane Street. He made a fortune by betting on bitcoin price differences on exchanges in the US and Asia. In 2017, he set up his own brokerage firm, Alameda Research, and in 2019 he founded the crypto exchange FTX. Its collapse at the end of 2022 shook the crypto industry in a huge scandal that destroyed a lot of trust.
