Sam Bankman-Fried Unlikely to Face Second Trial, Say US Prosecutors – Here’s the Latest

Sam Bankman-Fried, the CEO of cryptocurrency exchange FTX, appears unlikely to face a second trial in the US after US prosecutors concluded a probe into his possible involvement in a money laundering conspiracy. According to news reports, FTX has been under investigation by the US Department of Justice (DOJ) since last May, when Bankman-Fried was accused of knowingly receiving payments from individuals in the US for the purpose of laundering proceeds from drug trafficking and other criminal activities. FTX has denied any wrongdoing and has said that Bankman-Fried was not involved in any illegal activity. Bankman-Fried’s lawyer, Robert Hantman, has said that his client has cooperated fully and that the government has determined that there were no grounds for criminal prosecution. Hantman has said that Bankman-Fried believes the investigation was a result of a misunderstanding over the cryptocurrency ecosystem, and he is confident that the DOJ’s decision to close the case confirms it. He added that it was a relief to know that Bankman-Fried’s name will be cleared and that the “drama has come to an end.” The DOJ investigation into Bankman-Fried is the latest in a series of probes into cryptocurrency exchanges over possible links to money laundering. Last month, a top US prosecutor said he was closely monitoring money laundering activities related to cryptocurrencies and that exchanges should do more to protect the funds of their customers and prevent money laundering.