Former FTX CEO Sam Bankman-Fried receives 25-year prison sentence, highlighting legal scrutiny in crypto. Judge cites $1.7B investor loss, $1.3B lender loss, and $8B customer shortfall. Complex sentencing reflects industry complexities. Victim testimonies underscore human toll. Defense emphasizes intent. Case shapes digital asset regulation discussions.
Huang BoU.S. Prosecutors forego second trial for FTX's Bankman-Fried, focusing on sentencing following sufficient evidence from the first trial.
Kikyo
BitcoinworldThe new management of FTX, headed by CEO John Ray III, today released its first interim report on control failures at the collapsed crypto exchange. The 45-page report describes in painstaking detail FTX’s slapdash record-keeping, near non-existent cybersecurity defenses and its sparse expertise in key areas like finance.
TheBlockA third member of Sam Bankman-Fried’s inner circle has turned on him.N
TheBlockProsecutors suspect that Bankman-Fried illegally used FTX customer funds to invest in the hedge fund.
BeincryptoThe alleged fraudster's latest blog post shows a man completely divorced from reality.
CoindeskAccused crypto grifter SBF is one step closer to an American courtroom Tuesday, after he signed legal paperwork to begin the extradition process.
OthersSpoiler alert: it hasn’t yet been determined whether he did anything criminal.
He has not offered any explanation on the matter, and the crypto community has begun speculating.
Beincrypto