Sam Bankman-Fried, founder of FTX crypto exchange, has been facing a trial where several of his closest friends and colleagues testified against him. Among them are his ex-girlfriend Caroline Ellison, Nishad Singh, Gary Wang, and Ryan Salame. They all pleaded guilty to their own counts of fraud.
Ryan Salame, one of the witnesses, was sentenced to 7.5 years in prison in May. Caroline Ellison is awaiting sentencing later this month and has requested no jail time.
The trial has garnered significant attention in the crypto community, as Bankman-Fried’s reputation has been called into question. The outcome of the trial could have far-reaching implications for the future of FTX and the broader cryptocurrency industry.
