Significant legal developments took place last week in the cryptocurrency industry. These included Sam Bankman-Fried receiving a 25-year sentence, the U.S. SEC demanding $2 billion from Ripple, and charges being filed against KuCoin.

FTX Founder Sentenced

After a 25-year prison sentence was imposed on FTX founder Sam Bankman-Fried, the U.S. Department of Justice submitted a document containing statements from victims of the FTX collapse.

U.S. SEC Demands $2 Billion from Ripple

In the SEC vs. Ripple lawsuit, the U.S. SEC wants the court to impose a $2 billion fine on Ripple for past sales to institutions, despite the court's previous ruling that Ripple did not violate securities laws in its sales.

Legal Issues Involving KuCoin and Coinbase

Charges were filed against KuCoin for facilitating money laundering transactions, while the SEC vs. Coinbase lawsuit is ongoing with the court granting both parties the opportunity to present their arguments.

Binance Executives Battle with Nigerian Authorities

Binance executives faced legal troubles in Nigeria, with regional officer Nadeem Anjarwalla reportedly escaping from custody. The executives sued the Nigerian authorities, demanding their release and a public apology.

Bitcoin Resurgence

Bitcoin reclaimed $70,000 as spot BTC ETFs saw significant inflows, breaking a losing streak and reaching record highs in inflows, signaling a bullish sentiment in the market.