In today's big story, we're looking at Sam Bankman-Fried's conviction and what it means for the future of crypto.
Sam Bankman-Fried, the crypto industry's most recognizable face (and head of hair), was found guilty of seven counts of fraud and conspiracy on Thursday night.
Charges against Bankman-Fried included wire fraud, conspiracy to commit wire fraud, conspiracy to commit securities fraud, conspiracy to commit commodities fraud, and conspiracy to commit money laundering.
The conviction came, perhaps fittingly, on the first anniversary of the CoinDesk scoop that sent FTX, the crypto exchange Bankman-Fried co-founded and led, into a tailspin.
The downfall was swift, with Bankman-Fried resigning as CEO and FTX collapsing just over a week after the initial report.
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