Sam Bankman-Fried pleaded not guilty to eight different counts of wire fraud, securities fraud, and conspiracy before a US federal court in the Southern District of New York on Tuesday.
US prosecutors allege that under Bankman-Fried’s direction, FTX, once considered one of the largest and most-trusted cryptocurrency exchanges, transferred billions in customer assets to his trading firm, Alameda Research.
If convicted of these charges, Bankman-Fried faces up to 115 years in prison.
A trial date was set for October 2, 2023.
Bankman-Fried initially appeared before the court on December 22, following his extradition from custody in The Bahamas after his December 12 arrest. Bankman-Fried has been free on a $250 million bond at his parents’ home in Palo Alto, California.