The founder of FTX, Sam Bankman-Fried, has been found guilty in a trial related to a cryptocurrency scandal. He could face up to 110 years in prison. This trial is about wrongdoing in the cryptocurrency world, and it didn't take long, lasting only four weeks.
While Bankman-Fried admitted to some mistakes, he denied fraud. However, the jury believed he cheated people. The sentencing is set for March, and he might receive a 20 to 30-year prison term.
Notably, famous figures like model Gisele Bündchen and football star Tom Brady invested heavily in his company. But things took a turn when the company faced financial troubles and eventually collapsed.
