FTX Founder Bankman-Fried Faces Fraud Charges as Crypto Empire Implodes

Sam Bankman-Fried, former CEO of FTX, goes on trial in NYC Tuesday for wire fraud, securities fraud, money laundering. Faces up to 20 years if convicted.

FTX and Bankman-Fried rose fast as major crypto exchange and influential political donor. His estimated $26B wealth cratered in November.

Rival Binance's sale of FTX's own token FTT revealed FTX used customer funds for Bankman-Fried's trading firm Alameda.

FTX blocked withdrawals, then filed for bankruptcy as billions missing. Replaced as CEO. Arrested in December.

FTX insiders like ex-Alameda CEO Caroline Ellison expected to testify against Bankman-Fried in 6-week trial. More charges pending.