Sam Bankman-Fried's Trial: The Reckoning for Crypto Exchange FTX

Sam Bankman-Fried, the founder of failed cryptocurrency exchange FTX, is set to face trial on federal fraud and money-laundering charges. If convicted, he could face a prison term of over a century. The case highlights the risks and bankruptcies associated with the crypto trading industry. Bankman-Fried is accused of running a scam that involved diverting billions from customers to fund outside ventures, including political contributions and luxury real estate purchases. The trial is expected to last six weeks, with Bankman-Fried's former colleagues testifying against him. The defense is expected to argue that FTX's collapse was due to mistakes rather than fraud.