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Former crypto titan Sam Bankman-Fried pleads not guilty to fraud

Sam Bankman-Fried FTX Caroline Ellison Damian Williams Gary Wang Lewis Kaplan Alameda Alameda Research Cryptocurrency

FTX founder Sam Bankman-Fried, centre, has been accused of embezzling billions of dollars from investors [File: Julia Nikhinson/AP Photo]

In the United States, the former cryptocurrency magnate Sam Bankman-Fried has pleaded not guilty to charges of fraud, denying allegations that he cheated investors out of billions of dollars.

On Tuesday, lawyers for the 30-year-old Bankman-Fried, founder of the now-insolvent FTX cryptocurrency exchange, entered a plea of not guilty at an arraignment hearing before US District Judge Lewis Kaplan in New York City.

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