FTX Founder Faces Fraud Charges as Crypto World Distances Itself from Scandals

Sam Bankman-Fried faces trial for fraud related to the collapse of his crypto exchange FTX, coinciding with Trump's own legal woes.

Bankman-Fried donated heavily to Democrats but also met with Republican leaders like Mitch McConnell about stopping Trump-aligned candidates.

The crypto industry is trying to distance itself from Bankman-Fried after he dictated much of the sector's political strategy.

Even before the FTX collapse, many saw little real-world use for crypto beyond scams, fraud and half-baked schemes.

Trump himself warned crypto is often used for illegal activities and said the US dollar would always dominate.