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The co-founder and former CEO of failed cryptocurrency exchange FTX, Sam Bankman-Fried, has pleaded not guilty to fraud charges, according to CNBC.
Bankman-Fried appeared in a federal courtroom on Tuesday in New York City for his arraignment, where he faced eight fraud and conspiracy charges. The presiding judge has not set a trial date. Two of Bankman-Fried’s associates already pleaded guilty to fraud charges and are said to be cooperating with investigators.
Bankman-Fried was extradited from the Bahamas in December as US authorities continue investigating FTX’s titanic collapse. Prosecutors say Bankman-Fried took people’s money stored with the cryptocurrency exchange and fraudulently sent it to and from Alameda Research, his cryptocurrency hedge fund.
