Part 1 Beginner Why long-term crypto holders borrow against assets instead of selling A strategic guide to liquidity management, capital preservation, and the real tradeoff between selling and borrowing crypto Open guide 
FTX ex-CEO Sam Bankman-Fried likely to enter a plea on January 3, 2022
A plea is expected from SBF in Manhattan federal court next week, before U.S. District Judge Lewis Kaplan.
This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
Cover art/illustration via CryptoSlate. Image includes combined content which may include the use of AI tools.
Sam Bankman-Fried is expected to enter a plea on January 3, 2022, to criminal charges, including conspiracy to commit money laundering and conspiracy to commit fraud on customers and lenders.
The trial for the FTX founder is scheduled to begin on the afternoon of January 3, in Manhattan federal court, before U.S. District Judge Lewis Kaplan.
According to prosecutors, Bankman-Fried used customer deposits to fund his Alameda Research hedge fund firm, purchase real estate, and make political contributions for years. In addition, SBF borrowed $546M from Alameda to fund the purchase of Robinhood shares, according to an affidavit filed in the Antigua and Barbuda High Court on Dec. 12.
While two of his associates, former Alameda CEO Caroline Ellison and former FTX CTO Gary Wang, have pleaded guilty to their role in the company's collapse, the FTX founder has yet to do so.
Bankman-Fried was released on a record $250 million bail bond on Dec. 22 after he was extradited from the Bahamas. He was ordered to stay with his parents in Palo Alto, under electronic monitoring.
