FTX founder Sam Bankman-Fried pleads not guilty to all charges, trial set for Oct. 2

Bankman-Fried was released from U.S. custody after posting $250 million bail. He is currently on house arrest at his parents' California home.

By Ben Whedon

Published: January 3, 2023 3:32pm

Updated: January 3, 2023 4:09pm

FTX founder Sam Bankman-Fried pleaded not guilty to a litany of charges at his Tuesday arraignment in federal court.

The former cryptocurrency mogul faces charges of fraud, conspiracy, money-laundering and campaign finance law violations in connection with the collapse of his digital finance empire, according to Axios.

The judge set his trial date for Oct. 2, 2023.

FTX suffered a dramatic collapse in November of 2022 when investors simultaneously attempted to withdraw their stakes in the firm rendering it unable to fully remunerate them.

Reports quickly emerged of missing assets and suspicious transfers to FTX's sister firm, hedge fund Alameda Research. Both FTX co-founder Gary Wang and former Alameda CEO Caroline Ellison have pleaded guilty to criminal wrongdoing and are cooperating with prosecutors.

Bankman-Fried was released from U.S. custody after posting $250 million bail. He is currently on house arrest at his parents' California home, which was used to secure the $250 million bond.