A 12-person jury found Sam Bankman-Fried guilty of seven counts on Thursday, the culmination of a year-long criminal proceeding following the November 2022 collapse of the crypto exchange FTX.
In an industry known for fraud and excess, Bankman-Fried charted a spectacular path, including a meteoric rise that saw FTX valued at $32 billion after just a few years of operations. After a run on customer deposits last November revealed a massive hole at the center of its business, FTX declared bankruptcy, with Bankman-Fried arrested a few weeks later.
