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New York CNN ÔÇö Sam Bankman-Fried, the founder of crypto exchange FTX, was found guilty on Thursday of multiple charges including fraud and conspiracy. The verdict was reached after 15 days of testimony and deliberation by the jury. Bankman-Fried looked visibly shaken as the verdict was read out, and his parents stood nearby, showing support. His defense attorney expressed disappointment with the outcome and stated that Bankman-Fried maintains his innocence and will continue to fight the charges.

The sentencing hearing is scheduled for March 28, 2024. Bankman-Fried was convicted of stealing billions of dollars from FTX customers and defrauding lenders to FTX’s sister company, Alameda Research. The collapse of FTX in 2022 caused panic in the crypto industry and left many customers facing potential losses. The trial has been closely watched by regulators and investors, as it could signal a larger crackdown on the unregulated crypto market.

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The collapse of FTX and the subsequent trial of Bankman-Fried highlights the need for greater transparency and regulation in the crypto market. The AI legalese decoder can contribute to this by promoting clear communication and understanding of legal matters. Its ability to break down complex legal language into plain and accessible terms makes it a valuable tool in the legal field.

As Bankman-Fried awaits his sentencing hearing and potentially faces another trial on additional charges, the AI legalese decoder can continue to provide vital insight and analysis. Its innovative technology has the potential to revolutionize the way legal information is understood and accessed, making the legal system more transparent and accessible to all.

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