The former CEO of FTX, Sam Bankman-Fried, has been given a 25-year prison sentence after being found guilty of defrauding customers and investors. Despite remorse for his actions and acknowledgment of harm caused to FTX's customers, the prosecution sought a harsher sentence of 40-50 years due to significant financial losses. Bankman-Fried's defense team argued for a shorter sentence based on his status as a non-violent first-time offender. The sentencing also included an order for Bankman-Fried to forfeit over $11 billion in assets.
Sam Bankman-Fried's Prison Sentence
by Giorgi Kostiuk
2 years ago
0
Other news
Memecoin Trading Drives Unprecedented Growth in DEX Market Share
Memecoin trading has led to a record 37.4% market share for decentralized exchanges (DEXs) in June, indicating a shift in investor preferences towards these platforms.
PancakeSwap's Role in DEX Growth Amid Memecoin Trading Boom
PancakeSwap's integration with Binance Alpha significantly boosted trading volume, showcasing the impact of strategic partnerships on DEX adoption.
Glassnode Reports Sharp Decline in Bitcoin Liquidity Amid Market Downturn
Onchain analytics firm Glassnode reports a significant decrease in longterm Bitcoin liquidity following a market downturn, indicating potential for a deeper bear market.
Solana Dominates with 40% DEX Trading Share
Solana emerged as a major player in the DEX market, capturing nearly 40% of trading volume driven by memecoin activity.
Memecoin Volatility Shakes Financial Markets
The surge in memecoin trading resulted in dramatic price fluctuations and a $5 billion drop in market capitalization.
DEX Trading Volumes Reach New Heights Amid Memecoin Speculation
Crypto decentralized exchange (DEX) trading volumes have surged to unprecedented levels, surpassing those of centralized exchanges (CEX) due to a memecoin speculation frenzy.
Be the first to know about crypto news every day
Get crypto analysis, news and updates right to your inbox! Sign up here so you don’t miss a single newsletter