Founder of major cryptocurrency exchange FTX Trading sentenced to 25 years in prison. Sam Bankmanfried has been accused of fraud and money laundering, including misappropriating customer funds.
The bankruptcy of FTX, which is said to be the largest ever in the crypto asset industry, has had a major impact on the industry. It has prompted financial authorities to tighten regulations and sparking debate over the protection of investors' assets. According to documents submitted by FTX to the court, it is expected that more than 1 million users will suffer damages.