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The Guardian - US
The Guardian - US
Business
Victoria Bekiempis and Nick Robins-Early in New York

Sam Bankman-Fried arrives in Manhattan court as fraud trial kicks off

Sam Bankman-Fried FTX Caroline Ellison Alameda Crypto Manhattan Cryptocurrency FTT
Sam Bankman-Fried sits beside his defense lawyer, as seen in a courtroom sketch, in New York City on 3 October.
Sam Bankman-Fried sits beside his defense lawyer, as seen in a courtroom sketch, in New York City on 3 October. Photograph: Jane Rosenberg/Reuters

The criminal trial of the former cryptocurrency mogul Sam Bankman-Fried began on Tuesday, with jury selection getting under way in a Manhattan federal court.

Bankman-Fried, who founded the cryptocurrency exchange FTX and associated hedge fund Alameda Research, is facing trial on finance crimes stemming from the shocking collapse of FTX. Before its sudden downfall last year, FTX was valued at around $32bn.

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