How billionaire ‘Crypto king’ faces 50 years in jail for £6,350,000,000 fraud
28-03-2024 14:05 via metro.co.uk

How billionaire ‘Crypto king’ faces 50 years in jail for £6,350,000,000 fraud

Sam Bankman-Fried pictured leaving court last year (Picture: Ed JONES/AFP)Disgraced crypto king Sam Bankman-Fried will be sent to prison today as he’s sentenced for fraud and money laundering.The former billionaire is appearing in New York on Thursday after his cryptocurrency exchange company, FTX, went bust in 2022 with $8billion (£6.3billion) of customer funds missing.At its peak FTX was valued at $32billion (£26billion), and Bankman-Fried became a business celebrity, promoti
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