Sam Bankman-Fried’s trial is over and he has been found guilty of seven counts. But it’s not over yet for the former FTX CEO.
Bankman-Fried will not be sentenced until March 28, but he also faces a second trial, currently scheduled for March 11, in which he will face additional charges, including foreign bribery. The U.S. Department of Justice has until February 1 to decide whether it plans to move forward with the trial. Brendan Quigley, former U.S. Attorney for the Southern District of New York, believes prosecutors will pursue this case.
“Kind of conventional wisdom” would have federal prosecutors and Bankman-Fried agreeing on a settlement, but Quigley said TechCrunch Chain Reaction Podcast that there might be challenges in this regard.