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The co-founder of failed cryptocurrency exchange FTX, Sam Bankman-Fried, is expected to enter his plea in court on Jan. 3, according to court documents. Bankman-Fried is scheduled to appear in a New York City courtroom for his arraignment, where he’ll either plead guilty to the eight fraud and conspiracy charges against him or go to trial. Two of Bankman-Fried’s associates have already pleaded guilty to fraud charges and are said to be cooperating with investigators.
Bankman-Fried was extradited from the Bahamas earlier this month 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.
