Sam Bankman-Fried, the fallen golden boy of crypto, is going on trial for what prosecutors are calling the largest financial fraud in recent history.

David Yaffe-Bellany, a technology reporter for The Times, explains the case of the man who was supposed to save the cryptocurrency industry and what its outcome could tell us about why he did not.

Guest: David Yaffe-Bellany, a technology reporter for The New York Times.

Background reading: 

• A year ago, Sam Bankman-Fried was a fixture on magazine covers and in the halls of Congress. Now he’s fighting federal charges of fraud and money laundering.
• Crypto insiders are trying to distance themselves from Mr. Bankman-Fried by zealously seeking to hold him to account.

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.