Former FTX CEO Sam Bankman-Fried Faces Fraud Charges Over Crypto Exchange's Collapse

FTX was a major crypto exchange that crashed in November 2022, wiping out billions in customer funds.
Prosecutors allege Bankman-Fried orchestrated a scheme to defraud FTX investors and customers.
Several FTX executives have pleaded guilty and are cooperating with authorities against Bankman-Fried.
Bankman-Fried argues the collapse was due to poor risk management, not fraud, but faces trial in October.
The FTX case has rocked the crypto industry and drawn scrutiny to its lack of regulation.