Sam Bankman-Fried’s guilty verdict could make it harder for other cryptocurrency companies to convince the public that their services are safe.

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Sam Bankman-Fried, the fallen crypto founder, knew full well about the fraudulent activities of FTX, including borrowing customer funds and fabricating balance sheets. Despite the condemnation from others in the industry, the rest of the crypto industry must now grapple with the aftermath and restore public trust. Bankman-Fried was once seen as a poster child for the industry, but the trials and revelations have exposed the lack of oversight and acceptance of fraudulent behavior in the crypto industry.

Sam Bankman-Fried’s shadow still looms over the crypto industry