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FTX's Sam Bankman-Fried Pleads Not Guilty

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Sam Bankman-Fried, the former CEO of FTX, pleaded not guilty on Tuesday to eight U.S. criminal counts.

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Bankman-Fried, Mark Cohen, and Christian Everdell appeared before a New York City judge on Tuesday.

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Bankman-Fried could face up to 115 years imprisonment if convicted of all charges. 

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Late December saw FTX founder and former CTO Gary Wang plead guilty to federal criminal allegations concerning the FTX crash. 

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Alameda Research CEO Caroline Ellison also pleaded guilty. Along with the criminal charges, the two will also face civil penalties from the SEC (CFTC) and CFTC.

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Wang and Ellison will cooperate with prosecutors. 

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They will also be key witnesses due to their close ties to Bankman-Fried, FTX, and Alameda's crypto hedge fund Alameda.

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