SBF to Remain in Jail Ahead Of October Trial
A court has decided that Samuel Bankman-Fried, the disgraced founder of the defunct cryptocurrency exchange FTX, will remain behind bars until his trial on October 3.
FTX, which failed in late 2022, is one of seven fraud and conspiracy allegations that Bankman-Fried is facing.
The sibling cryptocurrency exchange that Bankman-Fried also started, Alameda Research, which has now filed for bankruptcy, has been accused of utilising funds from FTX clients to reduce losses there. He has since been accused of doing this.
The charges against Bankman-Fried have been met with his plea of not guilty.
FTX, once the second-largest cryptocurrency exchange in the world, declared bankruptcy after $1 billion in client cash vanished.
(With inputs from Shikha Singh)
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