Sam Bankman-Fried Convicted of FTX Fraud: The 'Crypto King' Falls

Sam Bankman-Fried, the former billionaire and founder of cryptocurrency exchange FTX, has been found guilty of fraud and money laundering after a month-long trial in New York. The jury delivered a quick verdict, marking a significant downfall for Bankman-Fried, who now faces potential decades in prison. Prosecutors accused him of lying to investors and lenders, stealing billions of dollars, and contributing to FTX's collapse. Bankman-Fried's defense maintained his innocence, but the case went against him after former colleagues testified against him. The trial's outcome has implications for the crypto industry, which has faced scrutiny for criminal activity.