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What investors should learn from the crypto fraud case

FILE — Sam Bankman-Fried, founder of the crypto firm FTX, leaves the Manhattan Federal District court in New York, Feb. 9, 2023. Sam Bankman-Fried, the tousle-haired mogul who founded the FTX cryptocurrency exchange, was convicted on Thursday, Nov. 2, 2023, of seven charges of fraud and conspiracy after a monthlong trial that laid bare the rampant hubris and risk-taking across the crypto industry. (Hiroko Masuike/The New York Times)

Sam Bankman-Fried’s fate looks sealed, with lengthy jail time likely to be ordered, but this will not be the last crypto fraud, says the author.

PHOTO: NYTIMES

Lionel Laurent

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Justice has been served – and swiftly. A jury found fallen crypto mogul Sam Bankman-Fried

guilty of seven counts of fraud and conspiracy

after just five hours of deliberation, markedly less time than it took for jurors to puzzle over Elizabeth Holmes’ Theranos scandal or Raj Rajaratnam’s insider trading at hedge fund Galleon.

And while this is certainly crypto’s biggest case of fraud, it undoubtedly won’t be the last.

What investors should learn from the crypto fraud case

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