FTX Founder Sam Bankman-Fried Won’t Face Second Criminal Trial, U.S. Prosecutors Say

In November, a jury found Bankman-Fried guilty of seven counts of wire fraud, securities fraud and money laundering, among other charges. His crimes, which came to light in 2022, resulted in the loss of billions of dollars worth of FTX and Alameda Research investors’ funds, deepening a crypto market downturn that had begun earlier that year.