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His crimes, which came to light in 2022, resulted in the loss of billions of dollars worth of FTX and Alameda Research investors' funds, deepening a crypto market downturn that had begun earlier that year.Bankman-Fried will be sentenced in March 2024.

He faces a maximum prison sentence of more than 100 years.Elizabeth Napolitano was a data journalist at CoinDesk, where she reported on topics such as decentralized finance, centralized cryptocurrency exchanges, altcoins, and Web3.

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