Sam Bankman-Fried has entered a not-guilty plea to eight counts of wire fraud, securities fraud, and conspiracy

Former FTX chief executive Sam Bankman-Fried (C) arrives to enter a plea before US District Judge Lewis Kaplan in the Manhattan federal court, New York, January 3, 2023. – Bankman-Fried faces criminal fraud charges over the spectacular collapse of his crypto exchange. (Photo by Ed JONES / AFP) (Photo by ED JONES/AFP via Getty Images)

Sam Bankman-Fried pleaded not guilty to eight counts of wire fraud, securities fraud, and conspiracy in federal court in the Southern District of New York.

Prosecutors in the United States allege that under Bankman-direction, Fried’s FTX, once one of the largest and most trusted cryptocurrency exchanges, transferred billions of dollars in customer assets to his trading firm, Alameda Research.

Bankman-Fried faces up to 115 years in prison if convicted of these charges.A trial date of October 2, 2023 has been set.

Bankman-Fried first appeared in court on December 22, following his extradition from custody in The Bahamas following his arrest on December 12. Bankman-Fried has been released on a $250 million bond at his parents’ Palo Alto, California, home.