The first hearing in the FTX case for co-founder Sam Bankman-Fried (SBF) was held yesterday in New York, regarding the bankruptcy of the well-known crypto exchange in November last year.
Reuters reports that SBF has pleaded not guilty to the charges against him, and Judge Lewis Kaplan has set a trial start date for 2 October. So SBF will have nearly ten months to prepare his defense, during which time he will presumably remain under house arrest at his parents’ home in California.
Sam Bankman-Fried has arrived in court for his arraignment. We’re told he will plead not guilty to all the charges against him. pic.twitter.com/yakSLkOus8
— Connell McShane (@connellmcshane) January 3, 2023
Notably, the co-founder and former CEO of FTX has refused to plead guilty to misleading the exchange’s investors and causing billions of dollars in losses due to outright fraud.
The bankruptcy case of crypto exchange FTX
The main cause of FTX’s bankruptcy is the fact that the managers of th
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