Sam Bankman-Fried, the co-founder and CEO of cryptocurrency exchange FTX, has been sentenced to 25 years in prison for seven counts of fraud and conspiracy. The judge found that Bankman-Fried had attempted to tamper with a witness and made perjury findings based on trial testimony. The customers of FTX lost $8 billion and Bankman-Fried had falsely testified about when he learned of the missing funds. This case highlights the ongoing issue of corruption in the cryptocurrency industry and the consequences that come with it.
In a new episode of The Global Story podcast from the BBC World Service, presenter Katya Adler speaks to BBC's Cyber Correspondent Joe Tidy and North America Business Correspondent Erin Delmore about the rise and fall of Sam Bankman-Fried and the future of cryptocurrency. Tidy interviewed Bankman-Fried just days before his arrest and Delmore was in court for his sentencing in New York. With expert insights and reporting, this podcast provides a comprehensive look at the current state of cryptocurrency and one of its biggest players.