Sam Bankman-Fried, who once ran one of the world’s biggest cryptocurrency exchanges and is facing decades in jail, will not face another trial, US prosecutors say.
The 31-year-old was found guilty of fraud and money laundering last month.
Prosecutors said the “strong public interest” in a resolution of their case against the former billionaire outweighed benefits of a second trial.
He had faced six charges that had been separated from his first trial.
These included campaign finance violations, conspiracy to commit bribery, and conspiracy to operate an unlicensed money transmitting business.
His sentencing has been set for 28 March.
In a letter filed in federal court in Manhattan, prosecutors said that his sentencing will likely include orders of forfeiture and restitution for the victims of his crimes.
Bankman-Fried’s conviction in New York on 2 November concluded a stunning fall from grace for the former billionaire, once known as the “King of Crypto”.
He was arrested last year after his firm, FTX, went bankrupt.
FTX was once valued at $32bn (£26bn), but when it went bankrupt in November last year $8bn in customer funds was missing.
