The co-founder of failed cryptocurrency exchange FTX pleaded not guilty to a seven count indictment charging him with wire fraud, securities fraud and money laundering.

An attorney for FTX co-founder Sam Bankman-Fried said in federal court Tuesday his client has to subsist on bread, water and peanut butter because the jail he’s in isn’t accommodating his vegan diet.

  • solstice@lemmy.world
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    1 year ago

    Is it accurate to call him a former billionaire? My understanding is that he essentially embezzled ~$50 billion investor money and never truly owned it himself. Didn’t he take a ~$1 billion “loan” from the company for example?

    I think it’s more accurate to say “he had signature authority over accounts with billions in them” not “he was a billionaire” but idk…