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Cryptocurrencies

FTX founder Bankman-Fried pleads not guilty in fraud case

October trial date set at federal court hearing

Former FTX Chief Executive Sam Bankman-Fried leaves a federal court hearing in New York on Jan. 3.   © Reuters

NEW YORK (Reuters) -- Sam Bankman-Fried pleaded not guilty on Tuesday to criminal charges that he cheated investors in his now-bankrupt FTX cryptocurrency exchange, causing billions of dollars in losses in what prosecutors have called an epic fraud.

The 30-year-old defendant entered his plea through his lawyer to eight criminal counts, including wire fraud and conspiracy to commit money laundering, before U.S. District Judge Lewis Kaplan in Manhattan federal court.

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