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“Downfall of Crypto King:” BBC Set to Release SBF Documentary

source-logo  thecryptobasic.com 25 September 2023 16:46, UTC

The British Broadcasting Corporation (BBC) will release SBF’s documentary later today, a series that will examine the rise and fall of FTX.

The British Broadcasting Corporation (BBC) is set to release the highly anticipated documentary on FTX founder Sam Bankman-Fried (SBF).

SBF Documentary

Dubbed the “Downfall of the Crypto King,” the documentary examined the rise and fall of FTX- a crypto exchange SBF boasted would help take crypto to the mainstream.

According to the documentary’s synopsis, BBC described SBF as a mop-haired, nerdy math genius who embarked on a mission to transform the crypto world.

However, things did not go his way, as the former FTX CEO ended up being “the biggest loser” currently “facing the prospect of a lengthy prison sentence,” BBC noted.

Following a series of interviews and research with SBF’s former employees and associates, BBC is set to release the 90-minute documentary today, September 25, on its iPlayer.

Furthermore, the documentary highlights how the crypto community ignored the numerous red flags associated with FTX due to SBF’s charitable deeds, scruffy looks, and massive hype.

FTX Collapse and SBF Upcoming Trial

It is worth noting that the collapse of FTX was felt by the entire world of crypto, as prices of various assets plummeted heavily. FTX collapsed in November 2022, leaving over a million users in huge losses.

As a result, the team behind the firm filed for Chapter 11 bankruptcy protection. A month after FTX’s collapse, SBF was arrested and charged with fraud and money laundering by the Justice Department.

Additionally, the SEC and CFTC also filed charges against the former CEO of FTX, a company once valued at around $40B. At press time, SBF is facing seven charges. However, he pleaded not guilty to all charges.

It bears mentioning that his trial is scheduled to begin next month, on October 3, in a federal courtroom in Manhattan. Before then, a final pretrial conference could take place this week, with Judge Lewis Kaplan expected to outline the duration of the trial and other issues related to the case.

SBF will remain in jail throughout the duration of the trial, as his attempt to be released on bail was recently denied by an appeals court.