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BREAKING: JUDGE SENTENCES SBF TO 25 YEARS IN PRISON
Judge Kaplan said “It is the judgment of the court that you are sentenced to 240 months then consecutive 60 [etc] for a total of 300 months [25 years].”
#SambankmanFried #SamAltman #sambankman
Judge Kaplan said “It is the judgment of the court that you are sentenced to 240 months then consecutive 60 [etc] for a total of 300 months [25 years].”
#SambankmanFried #SamAltman #sambankman
JUST IN: 🇺🇸 US Government drop's political campaign finance criminal charge against Sam Bankman-Fried.
#FTX #sambankman
#FTX #sambankman
Unraveling the Sam Bankman-Fried Story: Investigating the True Culprit
Defense attorney Mark Cohen emphasizes that Bankman-Fried is not a monster, but rather a person who made mistakes while genuinely acting in good faith.The SBF trial is reaching its conclusion as both sides delivered their closing arguments this Wednesday.On the other hand, the prosecution attorney, Nicolas Roos, contends that Bankman-Fried should be found guilty of fraud and conspiracy.SBF is currently charged with seven counts of fraud and conspiracy, potentially leading to a maximum prison sentence of 115 years if convicted by the jury.
In a surprising turn of events, Bankman-Fried's defense attorney, Mark Cohen, has portrayed his client in a much different light than the government did during the trial. Cohen argued that Bankman-Fried should not be labeled a "monster" as the prosecution suggested but rather seen as a "mistake-maker" who acted in good faith.
Cohen's defense centered on the idea that Bankman-Fried's actions, while not flawless, were not driven by fraudulent intent. According to Cohen, SBF's only missteps were honest errors, not criminal acts.
During the trial, Cohen humanized the FTX founder by sharing childhood photos of him with former President Bill Clinton and another of Bankman-Fried sleeping on a private jet. He even critiqued the government's trivial attacks on his client's appearance, arguing that being "the worst-dressed CEO in the world" should not constitute a crime.
In his defense, Cohen also highlighted Bankman-Fried's openness and approachability. He emphasized that SBF was always accessible and willing to engage with the media, bloggers, and journalists.
Furthermore, Cohen raised questions about the credibility of the government's witnesses, including Bankman-Fried's former girlfriend, Carloline Ellison, Nishad Singh, and Gary Wang. He asked why these individuals continued to associate with SBF if they believed he was truly "terrible."
Cohen countered the prosecution's argument that Bankman-Fried's card shuffling was a sign of gambling, asserting that it was merely a coping mechanism for fidgetiness. He reiterated that "good faith is a complete defense" and that mistakes should not be treated as crimes.
The defense also underlined the challenges of the cryptocurrency industry and the volatility of its markets.
In contrast, the prosecution's closing arguments painted a different picture. Assistant United States Attorney Nicolas Roos aimed to convince the jury that Bankman-Fried was indeed guilty of fraud and conspiracy. According to Roos, SBF's actions amounted to "stealing" and presented evidence that demonstrated deceit, fund mishandling, and lies.
Roos alleged that Bankman-Fried had set up two methods to embezzle funds from FTX, one through an unlimited cash account at Alameda and another through political contributions made with customer funds. He relied on the testimonies of cooperators who admitted their involvement in the scheme and contended that believing Ellison, Singh, or Wang would lead to a guilty verdict for SBF.
As the trial concludes, a jury of 12 will ultimately decide Bankman-Fried's fate. If convicted, the 31-year-old entrepreneur faces seven counts of fraud and conspiracy, potentially resulting in a staggering 115 years in prison.
The trial has garnered significant attention within the crypto community due to FTX/Alameda's substantial presence before their downfall, with over $25 billion in valuation and $2 billion in assets under management. The prosecution has presented substantial evidence, including testimony from law enforcement officers involved in the investigation, making it a challenging task for SBF's defense to sway the jury in his favor.
#SBF #FTX #SBFFTX #sambankman #CryptoNews
In a surprising turn of events, Bankman-Fried's defense attorney, Mark Cohen, has portrayed his client in a much different light than the government did during the trial. Cohen argued that Bankman-Fried should not be labeled a "monster" as the prosecution suggested but rather seen as a "mistake-maker" who acted in good faith.
Cohen's defense centered on the idea that Bankman-Fried's actions, while not flawless, were not driven by fraudulent intent. According to Cohen, SBF's only missteps were honest errors, not criminal acts.
During the trial, Cohen humanized the FTX founder by sharing childhood photos of him with former President Bill Clinton and another of Bankman-Fried sleeping on a private jet. He even critiqued the government's trivial attacks on his client's appearance, arguing that being "the worst-dressed CEO in the world" should not constitute a crime.
In his defense, Cohen also highlighted Bankman-Fried's openness and approachability. He emphasized that SBF was always accessible and willing to engage with the media, bloggers, and journalists.
Furthermore, Cohen raised questions about the credibility of the government's witnesses, including Bankman-Fried's former girlfriend, Carloline Ellison, Nishad Singh, and Gary Wang. He asked why these individuals continued to associate with SBF if they believed he was truly "terrible."
Cohen countered the prosecution's argument that Bankman-Fried's card shuffling was a sign of gambling, asserting that it was merely a coping mechanism for fidgetiness. He reiterated that "good faith is a complete defense" and that mistakes should not be treated as crimes.
The defense also underlined the challenges of the cryptocurrency industry and the volatility of its markets.
In contrast, the prosecution's closing arguments painted a different picture. Assistant United States Attorney Nicolas Roos aimed to convince the jury that Bankman-Fried was indeed guilty of fraud and conspiracy. According to Roos, SBF's actions amounted to "stealing" and presented evidence that demonstrated deceit, fund mishandling, and lies.
Roos alleged that Bankman-Fried had set up two methods to embezzle funds from FTX, one through an unlimited cash account at Alameda and another through political contributions made with customer funds. He relied on the testimonies of cooperators who admitted their involvement in the scheme and contended that believing Ellison, Singh, or Wang would lead to a guilty verdict for SBF.
As the trial concludes, a jury of 12 will ultimately decide Bankman-Fried's fate. If convicted, the 31-year-old entrepreneur faces seven counts of fraud and conspiracy, potentially resulting in a staggering 115 years in prison.
The trial has garnered significant attention within the crypto community due to FTX/Alameda's substantial presence before their downfall, with over $25 billion in valuation and $2 billion in assets under management. The prosecution has presented substantial evidence, including testimony from law enforcement officers involved in the investigation, making it a challenging task for SBF's defense to sway the jury in his favor.
#SBF #FTX #SBFFTX #sambankman #CryptoNews
JUST IN: Sam Bankman-Fried is paying millions of dollars to his lawyers with stolen customer funds, lawsuit claims.
#FTX #sambankman #crypto2023
#FTX #sambankman #crypto2023
$FTX: 'King of Crypto' about to testify in fraud case
Former crypto boss Sam Bankman-Fried is set to speak in his own defence at his New York fraud trial on Thursday, after his lawyers began presenting his case.
It follows 12 days of prosecution testimony in which close former colleagues gave evidence.
The 31-year-old is accused of lying to investors and lenders and stealing money from customers of his now-bankrupt cryptocurrency exchange, FTX.
Mr Bankman-Fried, who could face a life sentence, denies the charges.
Defendants in the US are not obliged to testify during trials - and are often advised against doing so, since it opens them up to questioning by prosecutors.
One last gamble beckons for Sam Bankman-Fried
They say he tried to hide the transfers between the two firms and their close relationship - and lawyers have buttressed their allegations with text messages, spreadsheets and tweets.
During the trial, these witnesses, who include his ex-girlfriend and former Alameda chief executive Caroline Ellison, have emerged from hours of questioning with their credibility seemingly largely unscathed.
Mr Bankman-Fried's defence team has argued he was following "reasonable" business practices, as his companies grew rapidly.
After the collapse of his companies last year, he admitted in media interviews, including to the BBC, to managerial mistakes but said he never intended fraud.
Elizabeth Holmes is among other high-profile examples of defendants who have opted to testify in their own defence.
The founder of blood-testing start-up Theranos, who argued that she did not intend to defraud investors, was ultimately convicted of four out of 11 counts and sentenced to more than 11 years in prison.
But testifying can also pay off. Tom Barrack, a former private equity executive and fundraiser for former President Donald Trump, and Lebanese businessman Jean Boustani, both took to the stand in separate, unrelated criminal cases and were acquitted.
#CryptoTalks #CryptoNews #sambankman #FTX #BinanceSquare
Former crypto boss Sam Bankman-Fried is set to speak in his own defence at his New York fraud trial on Thursday, after his lawyers began presenting his case.
It follows 12 days of prosecution testimony in which close former colleagues gave evidence.
The 31-year-old is accused of lying to investors and lenders and stealing money from customers of his now-bankrupt cryptocurrency exchange, FTX.
Mr Bankman-Fried, who could face a life sentence, denies the charges.
Defendants in the US are not obliged to testify during trials - and are often advised against doing so, since it opens them up to questioning by prosecutors.
One last gamble beckons for Sam Bankman-Fried
They say he tried to hide the transfers between the two firms and their close relationship - and lawyers have buttressed their allegations with text messages, spreadsheets and tweets.
During the trial, these witnesses, who include his ex-girlfriend and former Alameda chief executive Caroline Ellison, have emerged from hours of questioning with their credibility seemingly largely unscathed.
Mr Bankman-Fried's defence team has argued he was following "reasonable" business practices, as his companies grew rapidly.
After the collapse of his companies last year, he admitted in media interviews, including to the BBC, to managerial mistakes but said he never intended fraud.
Elizabeth Holmes is among other high-profile examples of defendants who have opted to testify in their own defence.
The founder of blood-testing start-up Theranos, who argued that she did not intend to defraud investors, was ultimately convicted of four out of 11 counts and sentenced to more than 11 years in prison.
But testifying can also pay off. Tom Barrack, a former private equity executive and fundraiser for former President Donald Trump, and Lebanese businessman Jean Boustani, both took to the stand in separate, unrelated criminal cases and were acquitted.
#CryptoTalks #CryptoNews #sambankman #FTX #BinanceSquare
Three Reasons SBF Will Be Convicted: Former SEC Lawyer
Former SEC attorney John Reed Stark took to social media on Monday with an in-depth forecast of how Sam Bankman-Fried's criminal trial is likely to play out.The disgraced ex-boss of defunct crypto exchange FTX faces sweeping fraud charges that may collectively earn him a lifetime in prison. Though he will soon have his day in court, Stark says the founder’s chances of acquittal are low.
“Rarely in the history of financial fraud prosecutions has a DOJ team possessed this level of unconstrained access to such an extraordinary treasure trove of witnesses and evidence,” wrote the ex-lawyer on Twitter on Monday.
Stark noted the many high-profile executives close to Bankman-Fried who have already pled guilty to reduce their criminal sentences. They include FTX co-founder Gary Wang, engineering director Nisha Singh, FTX Digital Markets CEO Ryan Salame, and Alameda Research CEO Caroline Ellison.
Ellison—who was also SBF’s on-again, off-again girlfriend—admitted in her publicly leaked diary that she felt unequipped to run Alameda, the SBF-owned crypto trading desk deeply tied to the fraud. After leaking her diary to the media, SBF saw his bail revoked for witness tampering.
With such a powerful lineup of cooperating witnesses, Stark believes the prosecution’s stockpile of documented evidence of Bankman-Fried’s illegal dealings “is arguably unprecedented for a financial fraud trial.”
He said John Ray III’s handling of the exchange’s bankruptcy will also likely weigh against its founder. A month after assuming control of the exchange, Ray testified before Congress stating that FTX was an “unprecedented” corporate failure due to its “complete absence of trustworthy financial information.”
Stark believes Ray has likely handed the government most of his findings, offering access to a mountain of inculpatory evidence against SBF.
Lastly, Bankman-Fried has likely already incriminated himself through his post-FTX “public relations campaign,” during which he engaged in multiple interviews with independent journalists, legacy media, and Twitter spaces in an attempt to clear his name.
"SBF has simply refused to shut-up," Stark wrote. "Whether SBF is crazy like a fox or cannot control his compulsive desire to bare his soul is a debate left for not just legal, but psychological experts as well."
According to Stark, his hours of on-the-record explanations and responses open up major possibilities for impeachment—providing evidence that reveals inconsistencies and falsehoods in a person’s statements over time.
Federal prosecutors involved in other cryptocurrency fraud schemes told Decrypt last week that they also see few paths to victory for SBF. Daniel C. Silva, who helped prosecute BitConnect, said the trial would “be pretty overwhelming if it is brought to a jury in the same way that it was laid out in the indictment."Jordan Estes, a partner at the law firm Kramer Levin, said Ellison’s presence could add drama to the case that would ultimately align the jury against the FTX founder. “As a prosecutor in a fraud case, that can be really important for telling the story and grabbing the jury's attention," she said.
#ftx #sambankman
“Rarely in the history of financial fraud prosecutions has a DOJ team possessed this level of unconstrained access to such an extraordinary treasure trove of witnesses and evidence,” wrote the ex-lawyer on Twitter on Monday.
Stark noted the many high-profile executives close to Bankman-Fried who have already pled guilty to reduce their criminal sentences. They include FTX co-founder Gary Wang, engineering director Nisha Singh, FTX Digital Markets CEO Ryan Salame, and Alameda Research CEO Caroline Ellison.
Ellison—who was also SBF’s on-again, off-again girlfriend—admitted in her publicly leaked diary that she felt unequipped to run Alameda, the SBF-owned crypto trading desk deeply tied to the fraud. After leaking her diary to the media, SBF saw his bail revoked for witness tampering.
With such a powerful lineup of cooperating witnesses, Stark believes the prosecution’s stockpile of documented evidence of Bankman-Fried’s illegal dealings “is arguably unprecedented for a financial fraud trial.”
He said John Ray III’s handling of the exchange’s bankruptcy will also likely weigh against its founder. A month after assuming control of the exchange, Ray testified before Congress stating that FTX was an “unprecedented” corporate failure due to its “complete absence of trustworthy financial information.”
Stark believes Ray has likely handed the government most of his findings, offering access to a mountain of inculpatory evidence against SBF.
Lastly, Bankman-Fried has likely already incriminated himself through his post-FTX “public relations campaign,” during which he engaged in multiple interviews with independent journalists, legacy media, and Twitter spaces in an attempt to clear his name.
"SBF has simply refused to shut-up," Stark wrote. "Whether SBF is crazy like a fox or cannot control his compulsive desire to bare his soul is a debate left for not just legal, but psychological experts as well."
According to Stark, his hours of on-the-record explanations and responses open up major possibilities for impeachment—providing evidence that reveals inconsistencies and falsehoods in a person’s statements over time.
Federal prosecutors involved in other cryptocurrency fraud schemes told Decrypt last week that they also see few paths to victory for SBF. Daniel C. Silva, who helped prosecute BitConnect, said the trial would “be pretty overwhelming if it is brought to a jury in the same way that it was laid out in the indictment."Jordan Estes, a partner at the law firm Kramer Levin, said Ellison’s presence could add drama to the case that would ultimately align the jury against the FTX founder. “As a prosecutor in a fraud case, that can be really important for telling the story and grabbing the jury's attention," she said.
#ftx #sambankman
FTX Seek Dubai’s Unit Bankruptcy Dismissal And Settlements Ahead FTX 2.0 Launch:
“FTX Dubai is balance sheet solvent. Therefore, the Debtors believe that a solvent voluntary liquidation procedure in accordance with the laws of the United Arab Emirates would allow a timely distribution of the positive cash balance after payment of all outstanding liabilities and liquidation of all assets.”
#BinanceTournament #ftxupdate #sambankman #crypto2023
“FTX Dubai is balance sheet solvent. Therefore, the Debtors believe that a solvent voluntary liquidation procedure in accordance with the laws of the United Arab Emirates would allow a timely distribution of the positive cash balance after payment of all outstanding liabilities and liquidation of all assets.”
#BinanceTournament #ftxupdate #sambankman #crypto2023
📰 FTX Founder Sam Bankman-Fried Dodges Campaign Charge! 😎
US prosecutors dropped charges against $FTX founder Sam Bankman-Fried for unlawful campaign contributions, citing treaty obligations to The Bahamas. The charges were separated from the upcoming trial, creating two separate cases. Meanwhile, FTX's bankruptcy case heats up, as the new management goes after SBF for questionable transactions. Prosecutors raise concerns about witness tampering as SBF faces the court over a bail condition violation. Drama ensues as he shares personal writings of a key witness with the media, potentially interfering with her testimony. The crypto showdown continues! 🚀🍿
#FTX #sambankman #SBF
US prosecutors dropped charges against $FTX founder Sam Bankman-Fried for unlawful campaign contributions, citing treaty obligations to The Bahamas. The charges were separated from the upcoming trial, creating two separate cases. Meanwhile, FTX's bankruptcy case heats up, as the new management goes after SBF for questionable transactions. Prosecutors raise concerns about witness tampering as SBF faces the court over a bail condition violation. Drama ensues as he shares personal writings of a key witness with the media, potentially interfering with her testimony. The crypto showdown continues! 🚀🍿
#FTX #sambankman #SBF
THE STORY OF THE 23M BUILD ON BASE RUGPULL 🧵
🧵The Story of a $23m Rugpull on @BuildOnBase 🎭
I dug deep to uncover this. You want to bookmark this.
1/ YOLO season is in full force.
People are aping left, right and center - and this is the story of how a shiny, new memecoin (with sketchy origins) rugged for $23m after being live for barely 24 hours
Introducing $BALD 👨🦲
2/ Firstly, they created a sh*tcoin with a compelling degenesque name that hooked unsuspecting BASE ecosystem gem hunters.
BASE has been all the buzz lately but things soured very quickly after this dark rug pull.
"steady lads"
A phrase all too familiar to those prowling the degen space.
This was the red flag that would precede the nastiest rug pull to date on Build on base
4/ Then came the RUG !
$BALD dev pulled $23m in liquidity shortly after midday on Monday
They made an estimated $5.9m in profit from this.
Price dropped by 92% in seconds...
5/ But then in true scammer fashion, the dev had to defend himself...
"I didn't sell a single token at any point since deployment. Just added/removed 2 sided liquidity and bought"
But when called out they admitted 👇
6/ This next part is where it becomes even more interesting..
On-chain sleuths were like a dog with a bone trying to determine who the dev was, and what they uncovered was mind-blowing 🤯
1. Massive transfers from Alameda
2. Super early dYdX & Sushi governance involvement
👀
7/ Speculation at the moment is that the dev is non other than the infamous Sam Bankman-Fried.
Some stories are wild, suggesting that he worked alongside CIA to create $BALD and show them how shady the crypto space can be.
Base has been off to a super shaky start and what lies ahead remains to be seen.
Will things improve, will #coinbase end up being held liable? Bc they run the centralised sequencer...
We're at such an irrational stage in the market cycle at the moment.
Stay safe out there 👊
#base #basenetwork #FTX #sambankman
I dug deep to uncover this. You want to bookmark this.
1/ YOLO season is in full force.
People are aping left, right and center - and this is the story of how a shiny, new memecoin (with sketchy origins) rugged for $23m after being live for barely 24 hours
Introducing $BALD 👨🦲
2/ Firstly, they created a sh*tcoin with a compelling degenesque name that hooked unsuspecting BASE ecosystem gem hunters.
BASE has been all the buzz lately but things soured very quickly after this dark rug pull.
"steady lads"
A phrase all too familiar to those prowling the degen space.
This was the red flag that would precede the nastiest rug pull to date on Build on base
4/ Then came the RUG !
$BALD dev pulled $23m in liquidity shortly after midday on Monday
They made an estimated $5.9m in profit from this.
Price dropped by 92% in seconds...
5/ But then in true scammer fashion, the dev had to defend himself...
"I didn't sell a single token at any point since deployment. Just added/removed 2 sided liquidity and bought"
But when called out they admitted 👇
6/ This next part is where it becomes even more interesting..
On-chain sleuths were like a dog with a bone trying to determine who the dev was, and what they uncovered was mind-blowing 🤯
1. Massive transfers from Alameda
2. Super early dYdX & Sushi governance involvement
👀
7/ Speculation at the moment is that the dev is non other than the infamous Sam Bankman-Fried.
Some stories are wild, suggesting that he worked alongside CIA to create $BALD and show them how shady the crypto space can be.
Base has been off to a super shaky start and what lies ahead remains to be seen.
Will things improve, will #coinbase end up being held liable? Bc they run the centralised sequencer...
We're at such an irrational stage in the market cycle at the moment.
Stay safe out there 👊
#base #basenetwork #FTX #sambankman
✅US Prosecutors Want Sam Bankman-Fried Jailed Ahead of Trial
US federal prosecutors reportedly want former FTX CEO Sam Bankman-Fried jailed ahead of his October trial. Indeed, Reuters reported that prosecutors had asked the judge to sentence the former executive before the trial regarding the now-collapsed cryptocurrency exchange.
At a Manhattan Federal court hearing, prosecutor Danielle Sasson reportedly said, “No set of release conditions can ensure the safety of the community.” Subsequently, the request has arrived as Bankman-Fried is facing a plethora of charges connected to the fall of the exchange last year. The saga of cryptocurrency exchange FTX has certainly been one of the greatest controversies in the industry’s history.
#Ftx #sambankman
US federal prosecutors reportedly want former FTX CEO Sam Bankman-Fried jailed ahead of his October trial. Indeed, Reuters reported that prosecutors had asked the judge to sentence the former executive before the trial regarding the now-collapsed cryptocurrency exchange.
At a Manhattan Federal court hearing, prosecutor Danielle Sasson reportedly said, “No set of release conditions can ensure the safety of the community.” Subsequently, the request has arrived as Bankman-Fried is facing a plethora of charges connected to the fall of the exchange last year. The saga of cryptocurrency exchange FTX has certainly been one of the greatest controversies in the industry’s history.
#Ftx #sambankman
📰 FTX Sues Former Executives Over Alleged $1B Misuse 🚀📉
FTX takes legal action against ex-CEO Sam Bankman-Fried and others, seeking to recover $1 billion in allegedly misappropriated funds. 🕵️♂️ The lawsuit claims they used customer funds for personal gains, including luxury purchases and questionable investments. The FTX Foundation's wild plan to buy Nauru as a refuge for effective altruism also comes to light. 😱
#ftx #sbf #sambankman
FTX takes legal action against ex-CEO Sam Bankman-Fried and others, seeking to recover $1 billion in allegedly misappropriated funds. 🕵️♂️ The lawsuit claims they used customer funds for personal gains, including luxury purchases and questionable investments. The FTX Foundation's wild plan to buy Nauru as a refuge for effective altruism also comes to light. 😱
#ftx #sbf #sambankman
Sam Bankman-Fried faces new criminal charges including conspiracy to commit bank fraud
🔥🔥🔥
#ftxcollapse #Web3 #scams #sambankman #crypto2023
🔥🔥🔥
#ftxcollapse #Web3 #scams #sambankman #crypto2023
Former FTX CEO Sam Bankman-Fried is reportedly using Alameda Research funds to pay for hefty legal fees charged by his lawyers for his high-profile criminal fraud lawsuit that costs investors billions of dollars. 🔥
#ftx #sambankman #crypto2023 #dyor #crypto
#ftx #sambankman #crypto2023 #dyor #crypto
🔥🔥🔥 Is the #sambankman -Fried #Story Over?
Former crypto luminary Sam Bankman-Fried's recent 25-year prison sentence following a sentencing hearing attended by CoinDesk journalists has garnered significant attention. Despite defense objections, Judge Lewis Kaplan settled on a baseline sentence of 110 years, setting a tense atmosphere for the hearing.
Insights from various parties, including creditors and attorneys, provided a multifaceted perspective. Concerns about creditor impact and criticisms of the bankruptcy team were voiced. Defense counsel portrayed Bankman-Fried as complex, while the prosecution emphasized greed as his motivation.
Bankman-Fried's address to the court expressed regret but shifted blame to others involved in FTX's bankruptcy proceedings. Judge Kaplan's concluding remarks were scathing, citing alleged perjury and evasiveness.
Personal reflections on the sentencing recognize the complexity and stakes of the case, acknowledging its impact on #FTX stakeholders. Bankman-Fried's legal team plans to appeal, leaving the outcome uncertain.
In conclusion, Bankman-Fried's case remains a focal point in the crypto community and beyond, with ongoing ramifications yet to unfold amidst the legal proceedings.
Source - CryptoNews
#BinanceSquareTalks #cryptocurrency
Former crypto luminary Sam Bankman-Fried's recent 25-year prison sentence following a sentencing hearing attended by CoinDesk journalists has garnered significant attention. Despite defense objections, Judge Lewis Kaplan settled on a baseline sentence of 110 years, setting a tense atmosphere for the hearing.
Insights from various parties, including creditors and attorneys, provided a multifaceted perspective. Concerns about creditor impact and criticisms of the bankruptcy team were voiced. Defense counsel portrayed Bankman-Fried as complex, while the prosecution emphasized greed as his motivation.
Bankman-Fried's address to the court expressed regret but shifted blame to others involved in FTX's bankruptcy proceedings. Judge Kaplan's concluding remarks were scathing, citing alleged perjury and evasiveness.
Personal reflections on the sentencing recognize the complexity and stakes of the case, acknowledging its impact on #FTX stakeholders. Bankman-Fried's legal team plans to appeal, leaving the outcome uncertain.
In conclusion, Bankman-Fried's case remains a focal point in the crypto community and beyond, with ongoing ramifications yet to unfold amidst the legal proceedings.
Source - CryptoNews
#BinanceSquareTalks #cryptocurrency
🏛 Sam Bankman-Fried lawyers pitch for changes to judge’s jury instruction
Attorneys representing former FTX CEO Sam Bankman-Fried have written another letter to the presiding judge, seeking changes to the jury instructions. In the letter addressed to Judge Lewis Kaplan, the defense attorneys requested that the jury consider the role of English law in governing FTX’s terms of service. 👀
#ftx #FTXUpdate #sambankman #CryptoNews🔒📰🚫
Attorneys representing former FTX CEO Sam Bankman-Fried have written another letter to the presiding judge, seeking changes to the jury instructions. In the letter addressed to Judge Lewis Kaplan, the defense attorneys requested that the jury consider the role of English law in governing FTX’s terms of service. 👀
#ftx #FTXUpdate #sambankman #CryptoNews🔒📰🚫
Legal Outcome: SBF Spared Second Trial, Awaits March Sentencing in FTX Fraud Case
- Reuters reports: Sam Bankman-Fried (SBF) won't undergo a second trial for FTX fraud charges.
- Prosecutors withdraw retrial request due to absence of new evidence and a desire for a swift resolution.
- Bankman-Fried convicted in November 2023 on seven counts, encompassing securities fraud, money laundering, and wire fraud.
- His sentencing, potentially facing over 100 years in prison, looms ahead.
Sam Bankman-Fried’s legal saga continues to captivate headlines, a year following his arrest. Recent reports reveal that US prosecutors have opted against a retrial, citing a lack of new evidence and a desire to swiftly conclude the case in the public interest.
The journey through the courts has been arduous. Following a jury trial in November 2023, Bankman-Fried was convicted on seven counts of fraud, encompassing a range of allegations from securities fraud to money laundering conspiracy. Each charge carries a potential sentence of up to 20 years in prison alongside penalties and restitution.
Despite his team's intent to appeal, arguing biased witnesses and flawed evidence, their efforts met a setback when the prosecuting counsel successfully halted further proceedings in December 2023. Prosecutors argued that all pertinent evidence had been presented and reiterated the need for justice and restitution for FTX's victims.
Bankman-Fried’s sentencing, scheduled for March 28, 2024, looms ahead. His request for an adjournment was denied, and Judge Lewis Kaplan, disapproving of Bankman-Fried's lack of remorse, emphasized considering the gravity of the offenses, impact on victims, and the need for deterrence when determining the sentence.
Facing a potential sentence exceeding a century, along with substantial fines and restitution, Bankman-Fried's future remains uncertain pending his hearing.
It's important to note that the Voice of Crypto aims for accuracy but disclaims responsibility for any missing or incorrect information. Given the volatility of cryptocurrencies, it's prudent to conduct thorough research and make informed financial decisions.
#SBF #FTX #sambankman #FTX2.0 #FTXRevival
- Prosecutors withdraw retrial request due to absence of new evidence and a desire for a swift resolution.
- Bankman-Fried convicted in November 2023 on seven counts, encompassing securities fraud, money laundering, and wire fraud.
- His sentencing, potentially facing over 100 years in prison, looms ahead.
Sam Bankman-Fried’s legal saga continues to captivate headlines, a year following his arrest. Recent reports reveal that US prosecutors have opted against a retrial, citing a lack of new evidence and a desire to swiftly conclude the case in the public interest.
The journey through the courts has been arduous. Following a jury trial in November 2023, Bankman-Fried was convicted on seven counts of fraud, encompassing a range of allegations from securities fraud to money laundering conspiracy. Each charge carries a potential sentence of up to 20 years in prison alongside penalties and restitution.
Despite his team's intent to appeal, arguing biased witnesses and flawed evidence, their efforts met a setback when the prosecuting counsel successfully halted further proceedings in December 2023. Prosecutors argued that all pertinent evidence had been presented and reiterated the need for justice and restitution for FTX's victims.
Bankman-Fried’s sentencing, scheduled for March 28, 2024, looms ahead. His request for an adjournment was denied, and Judge Lewis Kaplan, disapproving of Bankman-Fried's lack of remorse, emphasized considering the gravity of the offenses, impact on victims, and the need for deterrence when determining the sentence.
Facing a potential sentence exceeding a century, along with substantial fines and restitution, Bankman-Fried's future remains uncertain pending his hearing.
It's important to note that the Voice of Crypto aims for accuracy but disclaims responsibility for any missing or incorrect information. Given the volatility of cryptocurrencies, it's prudent to conduct thorough research and make informed financial decisions.
#SBF #FTX #sambankman #FTX2.0 #FTXRevival
Unfolding Drama: Inside the Downfall of FTX and the Legal Battle of its Founder, Sam Bankman-Fried!
On July 20, The New York Times published a comprehensive article shedding light on the private thoughts of former Alameda Research CEO, Caroline Ellison, leading up to the collapse of FTX. The article exposed Ellison's concerns and unease regarding FTX's founder, Sam Bankman-Fried (SBF).
Prosecutors' Allegations and the Request for a Gag Order:
Following the article's publication, prosecutors accused Bankman-Fried of leaking Ellison's diary to discredit her as a witness in his highly anticipated criminal trial. In response, they sought a court order to prevent Bankman-Fried from making extrajudicial statements that could potentially sway the case's outcome.
Bankman-Fried's Defense and His Legal Team's Stance:
Bankman-Fried's legal team denied any wrongdoing on his part but expressed a willingness to comply with the gag order under a specific condition. They acknowledged that he had discussed and shared documents not included in the discovery with reporters from The New York Times. However, they argued that his actions were not improper and fell under the purview of "fair comment."
Gag Order Implications and the Inclusion of Other Witnesses:
Bankman-Fried's lawyers agreed to the gag order, provided that other witnesses, including FTX restructuring officer John J. Ray III, were also subjected to the same restriction. They pointed out Ray's critical remarks about SBF, which they believed the government had overlooked, highlighting potential issues with corporate controls and fund management at FTX.
Upcoming Court Hearing and Serious Charges Against Bankman-Fried:
The court is set to hold a hearing on the gag order on July 26. Bankman-Fried faces severe charges, including fraud, bribery, money laundering, and unlawful political contributions, which could lead to a sentence of over 100 years in prison. The case's outcome is of significant interest to investors, particularly those who suffered losses during FTX's collapse. #alamedaresearch #SBF
FTX's $1 Billion Lawsuit and Broader Implications:
FTX is pursuing a $1 billion lawsuit against Bankman-Fried and other former executives. The developments in this case could have far-reaching consequences for the crypto industry and those impacted by the exchange's downfall. Prosecutors argue that Bankman-Fried's recent actions may influence the trial's outcome, while his motivation for agreeing to the gag order may be to mitigate unfavorable reports ahead of the proceedings. #ftx #ftt #sambankman
Prosecutors' Allegations and the Request for a Gag Order:
Following the article's publication, prosecutors accused Bankman-Fried of leaking Ellison's diary to discredit her as a witness in his highly anticipated criminal trial. In response, they sought a court order to prevent Bankman-Fried from making extrajudicial statements that could potentially sway the case's outcome.
Bankman-Fried's Defense and His Legal Team's Stance:
Bankman-Fried's legal team denied any wrongdoing on his part but expressed a willingness to comply with the gag order under a specific condition. They acknowledged that he had discussed and shared documents not included in the discovery with reporters from The New York Times. However, they argued that his actions were not improper and fell under the purview of "fair comment."
Gag Order Implications and the Inclusion of Other Witnesses:
Bankman-Fried's lawyers agreed to the gag order, provided that other witnesses, including FTX restructuring officer John J. Ray III, were also subjected to the same restriction. They pointed out Ray's critical remarks about SBF, which they believed the government had overlooked, highlighting potential issues with corporate controls and fund management at FTX.
Upcoming Court Hearing and Serious Charges Against Bankman-Fried:
The court is set to hold a hearing on the gag order on July 26. Bankman-Fried faces severe charges, including fraud, bribery, money laundering, and unlawful political contributions, which could lead to a sentence of over 100 years in prison. The case's outcome is of significant interest to investors, particularly those who suffered losses during FTX's collapse. #alamedaresearch #SBF
FTX's $1 Billion Lawsuit and Broader Implications:
FTX is pursuing a $1 billion lawsuit against Bankman-Fried and other former executives. The developments in this case could have far-reaching consequences for the crypto industry and those impacted by the exchange's downfall. Prosecutors argue that Bankman-Fried's recent actions may influence the trial's outcome, while his motivation for agreeing to the gag order may be to mitigate unfavorable reports ahead of the proceedings. #ftx #ftt #sambankman
👉👉👉 Crypto Voters are a Key Swing Bloc in 2024 Election, New Survey Finds
Crypto voters could play a significant role in shaping the 2024 election, as indicated by a recent survey from the Crypto Council for Innovation.
The data suggests that while crypto voters lean slightly towards Democratic congressional candidates over Republicans, they overwhelmingly support #donaldtrump for the 2024 presidential election compared to Joe Biden.
Brett Quick, Head of Government Affairs for the Crypto Council for Innovation, emphasized the influence of crypto voters in the electoral landscape, highlighting the need for informed policy-making to address their priorities.
The survey also revealed concerns about the financial system, with 44% rating the financial condition of the United States as "poor." Additionally, almost 50% considered their access to financial goods & services as only "poor" or "fair." Sheila Warren, CEO of the Crypto Council for Innovation, pointed out the potential of digital assets to address the financial needs of underserved populations.
Key findings include 78% of crypto voters deeming Congress & the President addressing #cryptocurrency issues as "at least somewhat important," & 90% expressing a favorable view of cryptocurrency overall.
Senator Cory Gardner, Political Advisor for the Crypto Council for Innovation, noted that crypto voters are here to stay & emphasized the importance of Congress prioritizing cryptocurrency regulation, suggesting it could be a deciding factor in tight races.
As the 2024 election year unfolds, with presidential candidates like Vivek Ramaswamy & Robert F. Kennedy expressing support for the crypto industry, the survey indicates that crypto concerns might hold significance in the political landscape. The response from Congress to cryptocurrency issues, such as tightening policies post the #sambankman -Fried conviction & Hamas' misuse of cryptocurrencies, adds complexity to the dynamic, making it intriguing to see how crypto voters will influence the election.
Source - Cryptonews
#CryptoNews🔒📰🚫 #BinanceSquare
Crypto voters could play a significant role in shaping the 2024 election, as indicated by a recent survey from the Crypto Council for Innovation.
The data suggests that while crypto voters lean slightly towards Democratic congressional candidates over Republicans, they overwhelmingly support #donaldtrump for the 2024 presidential election compared to Joe Biden.
Brett Quick, Head of Government Affairs for the Crypto Council for Innovation, emphasized the influence of crypto voters in the electoral landscape, highlighting the need for informed policy-making to address their priorities.
The survey also revealed concerns about the financial system, with 44% rating the financial condition of the United States as "poor." Additionally, almost 50% considered their access to financial goods & services as only "poor" or "fair." Sheila Warren, CEO of the Crypto Council for Innovation, pointed out the potential of digital assets to address the financial needs of underserved populations.
Key findings include 78% of crypto voters deeming Congress & the President addressing #cryptocurrency issues as "at least somewhat important," & 90% expressing a favorable view of cryptocurrency overall.
Senator Cory Gardner, Political Advisor for the Crypto Council for Innovation, noted that crypto voters are here to stay & emphasized the importance of Congress prioritizing cryptocurrency regulation, suggesting it could be a deciding factor in tight races.
As the 2024 election year unfolds, with presidential candidates like Vivek Ramaswamy & Robert F. Kennedy expressing support for the crypto industry, the survey indicates that crypto concerns might hold significance in the political landscape. The response from Congress to cryptocurrency issues, such as tightening policies post the #sambankman -Fried conviction & Hamas' misuse of cryptocurrencies, adds complexity to the dynamic, making it intriguing to see how crypto voters will influence the election.
Source - Cryptonews
#CryptoNews🔒📰🚫 #BinanceSquare