The results of the Sam Bankman-Fried trial will extend far beyond the courtroom.

• Sam Bankman-Fried’s trial recently kicked off, and the world is watching.
• The stakes are high as the former FTX leader goes up against strong accusations of theft.
• Regardless of the result, policymakers are likely to respond with more regulation.

Most investors probably remember where they were when they learned that FTX had collapsed. I know I certainly do. When the iconic CoinDesk story on the deep problems with the leading crypto exchange broke, it wasn’t hard to see that it would change everything. Almost a year after the story devastated crypto markets, the man behind one of the biggest financial frauds in history is preparing to take the stand.