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Former FTX Executive Ryan Salame Sentenced to 90 Months in Prison Following Reimbursement Plan Rollo
Former FTX Executive Ryan Salame Sentenced to 90 Months in Prison Following Reimbursement Plan Rollout
Airdrop Is Live, Claim Instant $200 USD Worth of 200,000 DUNKI MUNKI Memecoins Free On WWW.DUNKIMUNKI.XYZ
Not long ago, cryptocurrency exchange FTX has decided to move forward with a plan that could fully reimburse some of its creditors for their losses.
However, the reimbursements will be in cash, excluding any gains from the surge in digital asset prices since the exchange’s collapse in November 2022.
FTX detailed the proposed bankruptcy plan in a recent news release, outlining a path to provide relief to 98% of its creditors, including individual investors who had $50,000 or less with the company.
If the plan is approved by both the court and creditors, these individuals can expect to receive the full amount of their lost funds within 60 days of the plan’s implementation
Airdrop Is Live, Claim Instant $200 USD Worth of 200,000 DUNKI MUNKI Memecoins Free On WWW.DUNKIMUNKI.XYZ
#FTX #Memecoin #Trump #EthereumETF #Bitcoin $FTT $BTC $ETH
Airdrop Is Live, Claim Instant $200 USD Worth of 200,000 DUNKI MUNKI Memecoins Free On WWW.DUNKIMUNKI.XYZ
Not long ago, cryptocurrency exchange FTX has decided to move forward with a plan that could fully reimburse some of its creditors for their losses.
However, the reimbursements will be in cash, excluding any gains from the surge in digital asset prices since the exchange’s collapse in November 2022.
FTX detailed the proposed bankruptcy plan in a recent news release, outlining a path to provide relief to 98% of its creditors, including individual investors who had $50,000 or less with the company.
If the plan is approved by both the court and creditors, these individuals can expect to receive the full amount of their lost funds within 60 days of the plan’s implementation
Airdrop Is Live, Claim Instant $200 USD Worth of 200,000 DUNKI MUNKI Memecoins Free On WWW.DUNKIMUNKI.XYZ
#FTX #Memecoin #Trump #EthereumETF #Bitcoin $FTT $BTC $ETH
Former FTX Executive Ryan Salame Sentenced to 90 Months in Prison Following Reimbursement Plan Rollout
Airdrop Is Live, Claim Instant $200 USD Worth of 200,000 DUNKI MUNKI Memecoins Free On WWW.DUNKIMUNKI.XYZ
Not long ago, cryptocurrency exchange FTX has decided to move forward with a plan that could fully reimburse some of its creditors for their losses.
However, the reimbursements will be in cash, excluding any gains from the surge in digital asset prices since the exchange’s collapse in November 2022.
FTX detailed the proposed bankruptcy plan in a recent news release, outlining a path to provide relief to 98% of its creditors, including individual investors who had $50,000 or less with the company.
If the plan is approved by both the court and creditors, these individuals can expect to receive the full amount of their lost funds within 60 days of the plan’s implementation
#FTX #Memecoin #Trump #EthereumETF #Bitcoin $FTT $BTC $ETH
Airdrop Is Live, Claim Instant $200 USD Worth of 200,000 DUNKI MUNKI Memecoins Free On WWW.DUNKIMUNKI.XYZ
Not long ago, cryptocurrency exchange FTX has decided to move forward with a plan that could fully reimburse some of its creditors for their losses.
However, the reimbursements will be in cash, excluding any gains from the surge in digital asset prices since the exchange’s collapse in November 2022.
FTX detailed the proposed bankruptcy plan in a recent news release, outlining a path to provide relief to 98% of its creditors, including individual investors who had $50,000 or less with the company.
If the plan is approved by both the court and creditors, these individuals can expect to receive the full amount of their lost funds within 60 days of the plan’s implementation
#FTX #Memecoin #Trump #EthereumETF #Bitcoin $FTT $BTC $ETH
A (Hopefully) Fun Look Back! 😅👀
Hey crypto fam! We're celebrating a milestone today – 3000 of you amazing people are following us on this wild crypto ride! To thank you for being part of the journey, we wanted to take a trip down memory lane and share some of our (hopefully) entertaining experiences in the crypto space.
We've been in this crazy market since early 2021. Now, for some crypto OG's that might seem like yesterday, but trust us, it's been long enough to see some wild rides. 🚀
Remember back in the day when everyone and their taxi driver was talking crypto? We do! That's when $SOL was just $20 a pop, then skyrocketed to over $200! Talk about hype! Don't get us wrong, anyone can invest, but just picture how crazy things were back then. 🤯
Then came the Metaverse and P2E craze. Remember those? $SAND , MANA, and $GALA were all the rage, with big players throwing billions at them. But just like a fad diet, the hype faded (looking at you Metaverse, where'd you go?). Most P2E tokens are still struggling to recapture their glory days. We even got burned by a super popular P2E project when China banned it, sending the price and demand for in-game items plummeting. Classic FOMO fail we'll never forget. 😫
And who could forget the LUNA and #FTX meltdowns? We remember watching CZ try to save the day, but it was like trying to hold back a tsunami. Everything went down, and the sound of crypto tears was deafening. Our portfolio took a 70% nosedive, ouch! Thankfully, most of it recovered thanks to strong fundamentals, but it took a long time. 🥶
Here's the point: Crypto is a wild rollercoaster. Some strike it rich, but plenty get burned chasing get-rich-quick schemes. Don't panic! We're just here to remind you to be mindful, avoid FOMO, stay grounded, and know when to cut your losses (it's okay to say "enough"!).
Remember, crypto is a marathon, not a sprint. Buckle up, have fun, and invest responsibly! DYOR! #altcoins #BTC #ETHETFS
Here's to many more crypto adventures with all of you! Thanks for 3000 Followers, Love. - Silentrocket 🙏😉<3
Hey crypto fam! We're celebrating a milestone today – 3000 of you amazing people are following us on this wild crypto ride! To thank you for being part of the journey, we wanted to take a trip down memory lane and share some of our (hopefully) entertaining experiences in the crypto space.
We've been in this crazy market since early 2021. Now, for some crypto OG's that might seem like yesterday, but trust us, it's been long enough to see some wild rides. 🚀
Remember back in the day when everyone and their taxi driver was talking crypto? We do! That's when $SOL was just $20 a pop, then skyrocketed to over $200! Talk about hype! Don't get us wrong, anyone can invest, but just picture how crazy things were back then. 🤯
Then came the Metaverse and P2E craze. Remember those? $SAND , MANA, and $GALA were all the rage, with big players throwing billions at them. But just like a fad diet, the hype faded (looking at you Metaverse, where'd you go?). Most P2E tokens are still struggling to recapture their glory days. We even got burned by a super popular P2E project when China banned it, sending the price and demand for in-game items plummeting. Classic FOMO fail we'll never forget. 😫
And who could forget the LUNA and #FTX meltdowns? We remember watching CZ try to save the day, but it was like trying to hold back a tsunami. Everything went down, and the sound of crypto tears was deafening. Our portfolio took a 70% nosedive, ouch! Thankfully, most of it recovered thanks to strong fundamentals, but it took a long time. 🥶
Here's the point: Crypto is a wild rollercoaster. Some strike it rich, but plenty get burned chasing get-rich-quick schemes. Don't panic! We're just here to remind you to be mindful, avoid FOMO, stay grounded, and know when to cut your losses (it's okay to say "enough"!).
Remember, crypto is a marathon, not a sprint. Buckle up, have fun, and invest responsibly! DYOR! #altcoins #BTC #ETHETFS
Here's to many more crypto adventures with all of you! Thanks for 3000 Followers, Love. - Silentrocket 🙏😉<3
JUST IN
Sam Bankman-Fried, the FTX fraudster,
is being moved to a new prison, likely a medium-security facility in California, per WSJ reports.
Location currently undisclosed. #FTX
#CryptoNews
Sam Bankman-Fried, the FTX fraudster,
is being moved to a new prison, likely a medium-security facility in California, per WSJ reports.
Location currently undisclosed. #FTX
#CryptoNews
Prosecutors Seek 5-7 Years for Former FTX Exec Ryan Salame
The post "Prosecutors Seek 5-7 Years for Former FTX Exec Ryan Salame" first appeared on 36crypto.com News.
U.S. prosecutors have suggested that former FTX executive Ryan Salame be prosecuted to a term of five to seven years in prison after he pleaded guilty to criminal charges in September last year. Salame's defense counsel pleaded with the judges for a non-suspensive sentence of no more than 18 months, but the prose was most insistent on the need for a long-term imprisonment that was far greater than 18 months.
Salame's Crimes Self-Serving, Not Just for FTX
It is also pointed out in the prosecution memo unsealed on Tuesday that Salame's crimes were self-serving and not solely aimed at helping #FTX and the cryptocurrency sphere. "The defendant's excuse for perpetrating these offenses to assist FTX and the cryptocurrency sector as a whole does not justify his actions in any way and is contradicted by the available evidence that demonstrates the defendant accruing significant individual gains from his criminal conduct," they added.
"Only a substantial incarceration sentence could appropriately reflect the nature and seriousness of his conduct and afford adequate deterrence," the memo continued. Even so, his attorneys made much of the fact that Salame did not mastermind these frauds and that he lost the lion's share of his fortune when FTX went belly-up. Ex-FT exchange head Sam Bankman-Fried, charged with fraud, embezzling clients' money, will taste the bitter fruit for nearly a quarter-century.
Ryan Salame Awaits Sentence Amidst Fraud Scandal
Ryan Salame served as a director or executive at Alameda Research before joining FTX as its CEO, and he later became responsible for several projects at the fallen exchange. Com by the end of year 2022 from the financial year 2019/2022. He faces sentencing on May 28 at a New York state courtroom.
Prosecutors insisted that Salame plotted to commit very severe crimes to help expand FTX and improve Bankman-Fried's image. The prosecutors also pointed out that Salame was engaged in some of the biggest crimes in conjunction with this scheme, stating, "The campaign finance offense is one of the largest-ever in American history, and the unlicensed money transmitting business exchanged over $1 billion without a license.
The call for longer sentencing implies the extent of Salame's participation in the fraudulent schemes incurred in FTX. The Recommended Sentence is to ensure that his conduct is considered horrible and also to warn future persons within the industry not to carry out such actions.
Ryan Salame's sentencing is one of the significant incidences that continue to unfold with legal consequences following the FTXsqueeze. The unlikely outcome of the trial followed calls for a long jail term by the prosecuting authorities, thus revealing the significance of the case in terms of responsibility and governance in cryptocurrencies. The legal professions and the players in the industry, especially in Lebanon and around the world, are awaiting the verdict in the court as Salame counts the days for the trial to be issued or completed.
U.S. prosecutors have suggested that former FTX executive Ryan Salame be prosecuted to a term of five to seven years in prison after he pleaded guilty to criminal charges in September last year. Salame's defense counsel pleaded with the judges for a non-suspensive sentence of no more than 18 months, but the prose was most insistent on the need for a long-term imprisonment that was far greater than 18 months.
Salame's Crimes Self-Serving, Not Just for FTX
It is also pointed out in the prosecution memo unsealed on Tuesday that Salame's crimes were self-serving and not solely aimed at helping #FTX and the cryptocurrency sphere. "The defendant's excuse for perpetrating these offenses to assist FTX and the cryptocurrency sector as a whole does not justify his actions in any way and is contradicted by the available evidence that demonstrates the defendant accruing significant individual gains from his criminal conduct," they added.
"Only a substantial incarceration sentence could appropriately reflect the nature and seriousness of his conduct and afford adequate deterrence," the memo continued. Even so, his attorneys made much of the fact that Salame did not mastermind these frauds and that he lost the lion's share of his fortune when FTX went belly-up. Ex-FT exchange head Sam Bankman-Fried, charged with fraud, embezzling clients' money, will taste the bitter fruit for nearly a quarter-century.
Ryan Salame Awaits Sentence Amidst Fraud Scandal
Ryan Salame served as a director or executive at Alameda Research before joining FTX as its CEO, and he later became responsible for several projects at the fallen exchange. Com by the end of year 2022 from the financial year 2019/2022. He faces sentencing on May 28 at a New York state courtroom.
Prosecutors insisted that Salame plotted to commit very severe crimes to help expand FTX and improve Bankman-Fried's image. The prosecutors also pointed out that Salame was engaged in some of the biggest crimes in conjunction with this scheme, stating, "The campaign finance offense is one of the largest-ever in American history, and the unlicensed money transmitting business exchanged over $1 billion without a license.
The call for longer sentencing implies the extent of Salame's participation in the fraudulent schemes incurred in FTX. The Recommended Sentence is to ensure that his conduct is considered horrible and also to warn future persons within the industry not to carry out such actions.
Ryan Salame's sentencing is one of the significant incidences that continue to unfold with legal consequences following the FTXsqueeze. The unlikely outcome of the trial followed calls for a long jail term by the prosecuting authorities, thus revealing the significance of the case in terms of responsibility and governance in cryptocurrencies. The legal professions and the players in the industry, especially in Lebanon and around the world, are awaiting the verdict in the court as Salame counts the days for the trial to be issued or completed.
Supporting Alameda, Co-Former CEO Speaks in Favour of Ryan Salame's Fair Sanctions
The post "Supporting Alameda, Co-Former CEO Speaks in Favour of Ryan Salame's Fair Sanctions" first appeared on 36crypto.com News.
Sam Trabucco, the ex-co-CEO of Alameda Research, wrote a three-page character reference for Ryan Salame, the ex-CEO of #FTX Digital Markets, on his account. Only the one printed on May 6, out of the 28 references accumulated by Salami, exceeds the length of Trabucco's statement. He recognizes Salaam's criminal actions but stresses the importance of the exactness of the retribution given.
Salame Admits Guilt in FTX Scandal
Going straight to the heart, Trabucco confides that his best friend, Salame, is a rascal. He highlights that Salame has confessed before himself and is ready to face the consequences. "Here it is, just in case you didn't know, Ryan is my best friend," she wrote. Besides committing wrongs, he has come clean about that, and he's prepared to accept the verdict. I want the imposition of the consequences to be fair — neither too soft nor too harsh, but reasonable at least.
Salame was found guilty on both counts and pleaded guilty to conspiracy to make an unlawful political contribution and conspiracy to operate an unlicensed money-transmitting business. He is asking for a prison sentence of at most 18 months, and his trial date is May 28.
Ryan Salame's Virtues and Crimes Examined by Trabucco
Not only did Trabucco's letter bring to light his long-lasting friendship with Salame, but it also emphasized the fact that their togetherness was a surprise yet a tremendous joy. It sounds ridiculous that we're this close friends just by looking at the pieces of paper. "He is more social; I am more into board games. She is adorably feminine, while I am a bookworm and an awkward loner," Trabucco said. Nevertheless, Salame's close friendship follows even though she can look beyond superficial traits. The image of Salam is reinforced by his role at Almeda, which reflected his knowledge of cryptocurrency as well as his friendly personality.
In conclusion, Trabucco suggests a balanced judgment of Salame, through which the hero's crimes will be eventually compensated by his many virtues. "Ryan will have the just punishment for his deed because it is logical that he should. What I request is for the punishment to be fair – for him, but also for the world that will be in great trouble if he is not entirely with us," Trabucco explained. The fact that Trabucco's call for fair treatment shows the unwavering interplay of personal relations and legal responsibility in the ongoing crypto story.
Sam Trabucco, the ex-co-CEO of Alameda Research, wrote a three-page character reference for Ryan Salame, the ex-CEO of #FTX Digital Markets, on his account. Only the one printed on May 6, out of the 28 references accumulated by Salami, exceeds the length of Trabucco's statement. He recognizes Salaam's criminal actions but stresses the importance of the exactness of the retribution given.
Salame Admits Guilt in FTX Scandal
Going straight to the heart, Trabucco confides that his best friend, Salame, is a rascal. He highlights that Salame has confessed before himself and is ready to face the consequences. "Here it is, just in case you didn't know, Ryan is my best friend," she wrote. Besides committing wrongs, he has come clean about that, and he's prepared to accept the verdict. I want the imposition of the consequences to be fair — neither too soft nor too harsh, but reasonable at least.
Salame was found guilty on both counts and pleaded guilty to conspiracy to make an unlawful political contribution and conspiracy to operate an unlicensed money-transmitting business. He is asking for a prison sentence of at most 18 months, and his trial date is May 28.
Ryan Salame's Virtues and Crimes Examined by Trabucco
Not only did Trabucco's letter bring to light his long-lasting friendship with Salame, but it also emphasized the fact that their togetherness was a surprise yet a tremendous joy. It sounds ridiculous that we're this close friends just by looking at the pieces of paper. "He is more social; I am more into board games. She is adorably feminine, while I am a bookworm and an awkward loner," Trabucco said. Nevertheless, Salame's close friendship follows even though she can look beyond superficial traits. The image of Salam is reinforced by his role at Almeda, which reflected his knowledge of cryptocurrency as well as his friendly personality.
In conclusion, Trabucco suggests a balanced judgment of Salame, through which the hero's crimes will be eventually compensated by his many virtues. "Ryan will have the just punishment for his deed because it is logical that he should. What I request is for the punishment to be fair – for him, but also for the world that will be in great trouble if he is not entirely with us," Trabucco explained. The fact that Trabucco's call for fair treatment shows the unwavering interplay of personal relations and legal responsibility in the ongoing crypto story.
FTX debtors file a lawsuit against Grayscale demanding $9 billion worth of shares unlocked
FTX's current CEO, John Ray, said the self-imposed improper redemption ban had been an issue.
According to the filing, Grayscale has extracted over $1.3 billion in management fees since 2021.
Grayscale is already fighting a lawsuit with the SEC over its attempts at becoming an ETF.
#Grayscale has become the new target of 2023 as the company has been taking hits from all directions. Not only is it about to begin its war of words with the Securities and Exchange Commission (SEC), but it is also taking heat from the biggest collapse of 2022, FTX.
FTX vs. Grayscale
As per a filing dated March 6, FTX and its debtors have announced a lawsuit against Grayscale Investments. The asset management company has been targeted by the John Ray-led firm as Grayscale failed to recover the cost of the injunctive relief.
Through the lawsuit, #FTX debtors are seeking injunctive relief to unlock about $9 billion worth of Grayscale #bitcoin Trust (GBTC) and the Grayscale Ethereum Trust (ETHE). This will enable FTX to realize more than $250 million in asset value.
According to the filing, in just the last two years, Grayscale has managed to extract over $1.3 billion in management fees, violating the Trust agreements. At the same time, the asset management company's actions have been blamed for the 50% decline in Net Asset Value.
Commenting on the lawsuit, the current Chief Executive Officer (CEO), John Ray, said,
"Our goal is to unlock value that we believe is currently being suppressed by Grayscale's self-dealing and improper redemption ban. FTX customers and creditors will benefit from additional recoveries, along with other Grayscale Trust investors that are being harmed by Grayscale's actions."
Grayscale vs. SEC
While on the one hand, Grayscale is at war with FTX, on the other, it is also dealing with the Securities and Exchange Commission (SEC). The company filed a lawsuit against the regulatory body for consistently denying a spot in Bitcoin ETF.
Grayscale called the outlook shared by the SEC as unfair and that it showcased harsh treatment. The #SEC countered the allegations saying that spot ETFs lack oversight at the moment and would need to be monitored akin to the Bitcoin Futures ETFs, which are monitored by the Chicago Mercantile Exchange.
The case will next go to oral arguments, where both parties will present what they have to say in regard to the spot Bitcoin ETF.
#buildtogether
According to the filing, Grayscale has extracted over $1.3 billion in management fees since 2021.
Grayscale is already fighting a lawsuit with the SEC over its attempts at becoming an ETF.
#Grayscale has become the new target of 2023 as the company has been taking hits from all directions. Not only is it about to begin its war of words with the Securities and Exchange Commission (SEC), but it is also taking heat from the biggest collapse of 2022, FTX.
FTX vs. Grayscale
As per a filing dated March 6, FTX and its debtors have announced a lawsuit against Grayscale Investments. The asset management company has been targeted by the John Ray-led firm as Grayscale failed to recover the cost of the injunctive relief.
Through the lawsuit, #FTX debtors are seeking injunctive relief to unlock about $9 billion worth of Grayscale #bitcoin Trust (GBTC) and the Grayscale Ethereum Trust (ETHE). This will enable FTX to realize more than $250 million in asset value.
According to the filing, in just the last two years, Grayscale has managed to extract over $1.3 billion in management fees, violating the Trust agreements. At the same time, the asset management company's actions have been blamed for the 50% decline in Net Asset Value.
Commenting on the lawsuit, the current Chief Executive Officer (CEO), John Ray, said,
"Our goal is to unlock value that we believe is currently being suppressed by Grayscale's self-dealing and improper redemption ban. FTX customers and creditors will benefit from additional recoveries, along with other Grayscale Trust investors that are being harmed by Grayscale's actions."
Grayscale vs. SEC
While on the one hand, Grayscale is at war with FTX, on the other, it is also dealing with the Securities and Exchange Commission (SEC). The company filed a lawsuit against the regulatory body for consistently denying a spot in Bitcoin ETF.
Grayscale called the outlook shared by the SEC as unfair and that it showcased harsh treatment. The #SEC countered the allegations saying that spot ETFs lack oversight at the moment and would need to be monitored akin to the Bitcoin Futures ETFs, which are monitored by the Chicago Mercantile Exchange.
The case will next go to oral arguments, where both parties will present what they have to say in regard to the spot Bitcoin ETF.
#buildtogether
Ripple’s CTO David Schwartz Reveals Funds Stuck On FTX Exchange
In the world of cryptocurrency, bankruptcies and lost funds are not uncommon. The latest example of this is the bankrupt crypto trading platform, FTX Derivatives Exchange, which has left many of its users with their funds locked up. Among these users is David Schwartz, the Chief Technology Officer of blockchain payments firm Ripple Labs Inc.
In a recent tweet, Schwartz revealed that he also has funds locked up on FTX Derivatives Exchange. According to his tweet, he initially thought he had no liability with the trading firm, but after proper checking, he discovered he has $2,500 in crypto locked up with the exchange.
@azcoinnews
Schwartz, who is a well-known figure in the cryptocurrency industry, explained that this kind of thing can happen when you’ve been in crypto for a long time. He even recounted a similar experience where he discovered 100 BTC that he had forgotten about. However, this time, the lost funds were not as significant.
As reported by AZCoin News, FTX Europe, the European subsidiary of the bankrupt cryptocurrency exchange FTX, has opened a new website to enable its former customers to withdraw their remaining funds from the platform. The new domain name, https://ftxeurope.eu/, has been approved by the Cyprus Securities and Exchange Commission (CySE) and will offer no products or services apart from balance withdrawal.
This is good news for users who have funds locked up on FTX Exchange, including David Schwartz. They now have a chance to recover their funds and put the episode behind them. However, it is a stark reminder of the risks that come with investing in cryptocurrency and the importance of being vigilant with one’s investments.
#FTX #Ripple #Schwartz #crypto2023 #azcoinnews
This article was republished from azcoinnews.com
In a recent tweet, Schwartz revealed that he also has funds locked up on FTX Derivatives Exchange. According to his tweet, he initially thought he had no liability with the trading firm, but after proper checking, he discovered he has $2,500 in crypto locked up with the exchange.
@azcoinnews
Schwartz, who is a well-known figure in the cryptocurrency industry, explained that this kind of thing can happen when you’ve been in crypto for a long time. He even recounted a similar experience where he discovered 100 BTC that he had forgotten about. However, this time, the lost funds were not as significant.
As reported by AZCoin News, FTX Europe, the European subsidiary of the bankrupt cryptocurrency exchange FTX, has opened a new website to enable its former customers to withdraw their remaining funds from the platform. The new domain name, https://ftxeurope.eu/, has been approved by the Cyprus Securities and Exchange Commission (CySE) and will offer no products or services apart from balance withdrawal.
This is good news for users who have funds locked up on FTX Exchange, including David Schwartz. They now have a chance to recover their funds and put the episode behind them. However, it is a stark reminder of the risks that come with investing in cryptocurrency and the importance of being vigilant with one’s investments.
#FTX #Ripple #Schwartz #crypto2023 #azcoinnews
This article was republished from azcoinnews.com
📢 Interesting Crypto Moments at the Republican Presidential Debate in Tuscaloosa, Alabama!
Vivek Ramaswamy emphasized the need for updated regulations in light of recent #crypto developments. He's one of the few candidates with a specific crypto policy, advocating for reduced SEC workforce and relaxed crypto industry regulations. 🚀
He also highlighted the inefficiency of the current regulatory framework, citing SBF's success with #FTX . Ramaswamy aims to treat most cryptocurrencies as commodities outside #SEC jurisdiction. 👏
Robert F. Kennedy Jr., now an Independent, proposed exempting #Bitcoin from capital gains tax and supporting financial innovation and privacy. 🌟
Florida Governor Ron DeSantis expressed skepticism about Central Bank Digital Currencies (CBDCs) and signed a bill aimed at banning them. Experts question the effectiveness of the law. 🤔
Crypto's making waves in the political arena! Stay tuned for more updates. 💰💼#RepublicanDebate #CryptoNews
Vivek Ramaswamy emphasized the need for updated regulations in light of recent #crypto developments. He's one of the few candidates with a specific crypto policy, advocating for reduced SEC workforce and relaxed crypto industry regulations. 🚀
He also highlighted the inefficiency of the current regulatory framework, citing SBF's success with #FTX . Ramaswamy aims to treat most cryptocurrencies as commodities outside #SEC jurisdiction. 👏
Robert F. Kennedy Jr., now an Independent, proposed exempting #Bitcoin from capital gains tax and supporting financial innovation and privacy. 🌟
Florida Governor Ron DeSantis expressed skepticism about Central Bank Digital Currencies (CBDCs) and signed a bill aimed at banning them. Experts question the effectiveness of the law. 🤔
Crypto's making waves in the political arena! Stay tuned for more updates. 💰💼#RepublicanDebate #CryptoNews
Citing poor internet connection in federal jail, lawyers representing former FTX CEO Sam have requested for a pre-trial release so that his defense preparation can be up to par.
#FTX #SBF #crypto #crypto2023
#FTX #SBF #crypto #crypto2023
**Just In: 🚨** Trial of FTX Founder Sam Bankman-Fried Commences in New York 🏛️⚖️
The trial of FTX founder Sam Bankman-Fried (SBF) has officially begun in New York, USA, starting at 22:30 on the 3rd. SBF faces allegations brought by the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the U.S. Attorney's Office for the Southern District of New York (SDNY). The accusations include misappropriation of billions of dollars in customer funds from 2019 to November of the previous year to settle debts of affiliate Alameda Research, the purchase of luxury real estate in the Bahamas, and illegal donations exceeding $100 million to U.S. politicians. He faces seven charges, with U.S. District Judge Lewis Kaplan informing the jury that the trial is expected to last six weeks. SBF's defense team and U.S. prosecutors have initiated the jury selection process. If found guilty, SBF could potentially face up to 115 years in prison.
#SBF #FTX #LegalTrial #CryptoNews
The trial of FTX founder Sam Bankman-Fried (SBF) has officially begun in New York, USA, starting at 22:30 on the 3rd. SBF faces allegations brought by the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the U.S. Attorney's Office for the Southern District of New York (SDNY). The accusations include misappropriation of billions of dollars in customer funds from 2019 to November of the previous year to settle debts of affiliate Alameda Research, the purchase of luxury real estate in the Bahamas, and illegal donations exceeding $100 million to U.S. politicians. He faces seven charges, with U.S. District Judge Lewis Kaplan informing the jury that the trial is expected to last six weeks. SBF's defense team and U.S. prosecutors have initiated the jury selection process. If found guilty, SBF could potentially face up to 115 years in prison.
#SBF #FTX #LegalTrial #CryptoNews
Top 10 Holdings on FTX
Asset Holdings($M) Tokens(M)% Circulating Supply
SOL 1,162 55.756 13.65%
BTC 560 0.021 0.11%
ETH 192 0.113 0.09%
APT 137 23.687 10.38%
USDT 120 120.000 0.14%
XRP 119 225.431 0.43%
BIT 49 110.689
STG 46 83.84
WBTC 41 0.002
WETH 37 0.022
#FTX #crypto2023 #crypto #btcnews99
Asset Holdings($M) Tokens(M)% Circulating Supply
SOL 1,162 55.756 13.65%
BTC 560 0.021 0.11%
ETH 192 0.113 0.09%
APT 137 23.687 10.38%
USDT 120 120.000 0.14%
XRP 119 225.431 0.43%
BIT 49 110.689
STG 46 83.84
WBTC 41 0.002
WETH 37 0.022
#FTX #crypto2023 #crypto #btcnews99
Sam Bankman-Fried Found Guilty! What will happen now?
Former CEO Sam Bankman-Fried ( ) was found guilty of all seven charges against him after a month-long trial. The hearing, where prosecutors and defense lawyers presented their evidence and witnesses, resulted in the striking decision of the 12-member jury. The jury spent a significant portion of the 18th day of the trial in intense deliberations before reaching a unanimous verdict. After more than three hours of careful consideration, they informed Judge Lewis Kaplan that they had reached “absolute consensus.” As a result, the jury found Sam Bankman-Fried guilty of all seven charges outlined in the indictment.
The charges include:
1.Conspiracy to defraud customers of their deposits.
2.Fraudulently taking customer deposits.
3.Conspiracy to defraud creditors' funds.
4.Fraudulent receipt of creditors' funds.
5.Conspiracy to defraud assets.
6.Conspiracy to defraud securities.
7.Money laundering conspiracy.
Jurors began deliberating on November 1 after each side made closing statements. They later concluded that Bankman-Fried was responsible for the company's collapse. Throughout the trial, Bankman-Fried tried to convince jurors of his innocence. He continued his defense, which started with a media tour, especially after the stock market crash. Bankman-Fried repeatedly assured the public that the collapse was due to ignorance, not malice. However, it seems that the jurors did not believe the defense put forward.
Former CEO Sam Bankman-Fried ( ) was found guilty of all seven charges against him after a month-long trial. The hearing, where prosecutors and defense lawyers presented their evidence and witnesses, resulted in the striking decision of the 12-member jury. The jury spent a significant portion of the 18th day of the trial in intense deliberations before reaching a unanimous verdict. After more than three hours of careful consideration, they informed Judge Lewis Kaplan that they had reached “absolute consensus.” As a result, the jury found Sam Bankman-Fried guilty of all seven charges outlined in the indictment.
The charges include:
1.Conspiracy to defraud customers of their deposits.
2.Fraudulently taking customer deposits.
3.Conspiracy to defraud creditors' funds.
4.Fraudulent receipt of creditors' funds.
5.Conspiracy to defraud assets.
6.Conspiracy to defraud securities.
7.Money laundering conspiracy.
Jurors began deliberating on November 1 after each side made closing statements. They later concluded that Bankman-Fried was responsible for the company's collapse. Throughout the trial, Bankman-Fried tried to convince jurors of his innocence. He continued his defense, which started with a media tour, especially after the stock market crash. Bankman-Fried repeatedly assured the public that the collapse was due to ignorance, not malice. However, it seems that the jurors did not believe the defense put forward.
Crypto Entrepreneurs: Key Winners and Losers of 2023
In this article, we take a look at key figures in the crypto world whose fates in 2023 were diverse and significantly influenced the direction of cryptocurrencies.
The year 2023 brought many triumphs and failures in the crypto industry. While some enjoyed tremendous success, others experienced the collapse of their empires, despite positive expectations.
Below, you'll find an overview of those who reaped success in the world of cryptocurrencies in 2023, and those who, on the contrary, incurred significant losses.
Triumphant Heroes
In times full of uncertainty and hope, several crypto entrepreneurs proved themselves as resilient visionaries. Their contributions not only shaped the year 2023 but also laid solid foundations for the future.
Brad Garlinghouse
#Ripple might not be everyone's favorite, but its CEO Brad Garlinghouse earned widespread favor in the crypto community this year due to several legal victories against the US Securities and Exchange Commission (SEC). In July, Ripple achieved a significant legal decision confirming that their XRP token does not violate securities laws. Although the dispute with the SEC over a fine of $770 million continues, Garlinghouse maintains a strong position in his fight with the regulator.
Yuga Labs
Yuga Labs experienced a significant legal success this year. In April, the court ruled in favor of the company in their dispute with Ryder Ripps and Jeremy Cahen, who accused Yuga Labs' #NFT Bored Ape Yacht Club of racism and anti-Semitism and subsequently created copies of these NFTs. The court ordered Ripps and Cahen to pay Yuga Labs damages and legal expenses amounting to $1.57 million.
Real Bedford FC
Real Bedford, a football team owned by #Bitcoin podcaster Peter McCormack, had an outstanding year, winning the South Midlands league in the United Kingdom in April. McCormack's goal of getting the club into the Premier League may be distant, but this year's promotion is a step in the right direction.
Crypto Lawyers
In a year full of bankruptcies, scams, and copyright infringement, one group benefited from every crisis: lawyers specializing in cryptocurrencies. In January 2023, the law firm Sullivan & Cromwell had 150 employees working solely on the FTX case, an example of great success in this area.
Unfortunate Losers
Some of the most respected crypto entrepreneurs faced legal troubles in 2023, ranging from embezzlement of investment funds to enabling money laundering.
Changpeng Zhao
The story of #Binance “CZ” is a matter of perspective. Despite having to pay a huge fine and admitting to failing to prevent money laundering.
Jesse Powell
Jesse Powell and his company Kraken settled with the SEC in February and paid a fine of $30 million. The SEC subsequently filed a complaint against Kraken for allegedly operating as an unregistered national securities exchange.
Do Kwon
Terraform Labs co-founder Do Kwon was arrested and sentenced for forging official documents, just the beginning of his troubles as he faces extradition efforts for the collapse of the Terra ecosystem.
Sam Bankman-Fried
Sam Bankman-Fried, former CEO of #FTX , was found guilty of fraud and faces a possible sentence of up to 110 years in prison, making him one of the biggest losers of 2023 in the crypto world.
This overview shows that 2023 was a year of extremes for crypto entrepreneurs, from the heights of success to deep falls.
💥If this article caught your interest, don't forget to follow us and give a like. Throughout this year, we will bring you the most interesting analyses and tips to help you get rich.🐳
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
The year 2023 brought many triumphs and failures in the crypto industry. While some enjoyed tremendous success, others experienced the collapse of their empires, despite positive expectations.
Below, you'll find an overview of those who reaped success in the world of cryptocurrencies in 2023, and those who, on the contrary, incurred significant losses.
Triumphant Heroes
In times full of uncertainty and hope, several crypto entrepreneurs proved themselves as resilient visionaries. Their contributions not only shaped the year 2023 but also laid solid foundations for the future.
Brad Garlinghouse
#Ripple might not be everyone's favorite, but its CEO Brad Garlinghouse earned widespread favor in the crypto community this year due to several legal victories against the US Securities and Exchange Commission (SEC). In July, Ripple achieved a significant legal decision confirming that their XRP token does not violate securities laws. Although the dispute with the SEC over a fine of $770 million continues, Garlinghouse maintains a strong position in his fight with the regulator.
Yuga Labs
Yuga Labs experienced a significant legal success this year. In April, the court ruled in favor of the company in their dispute with Ryder Ripps and Jeremy Cahen, who accused Yuga Labs' #NFT Bored Ape Yacht Club of racism and anti-Semitism and subsequently created copies of these NFTs. The court ordered Ripps and Cahen to pay Yuga Labs damages and legal expenses amounting to $1.57 million.
Real Bedford FC
Real Bedford, a football team owned by #Bitcoin podcaster Peter McCormack, had an outstanding year, winning the South Midlands league in the United Kingdom in April. McCormack's goal of getting the club into the Premier League may be distant, but this year's promotion is a step in the right direction.
Crypto Lawyers
In a year full of bankruptcies, scams, and copyright infringement, one group benefited from every crisis: lawyers specializing in cryptocurrencies. In January 2023, the law firm Sullivan & Cromwell had 150 employees working solely on the FTX case, an example of great success in this area.
Unfortunate Losers
Some of the most respected crypto entrepreneurs faced legal troubles in 2023, ranging from embezzlement of investment funds to enabling money laundering.
Changpeng Zhao
The story of #Binance “CZ” is a matter of perspective. Despite having to pay a huge fine and admitting to failing to prevent money laundering.
Jesse Powell
Jesse Powell and his company Kraken settled with the SEC in February and paid a fine of $30 million. The SEC subsequently filed a complaint against Kraken for allegedly operating as an unregistered national securities exchange.
Do Kwon
Terraform Labs co-founder Do Kwon was arrested and sentenced for forging official documents, just the beginning of his troubles as he faces extradition efforts for the collapse of the Terra ecosystem.
Sam Bankman-Fried
Sam Bankman-Fried, former CEO of #FTX , was found guilty of fraud and faces a possible sentence of up to 110 years in prison, making him one of the biggest losers of 2023 in the crypto world.
This overview shows that 2023 was a year of extremes for crypto entrepreneurs, from the heights of success to deep falls.
💥If this article caught your interest, don't forget to follow us and give a like. Throughout this year, we will bring you the most interesting analyses and tips to help you get rich.🐳
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
