The scale of his crimes is measured not just by the amount of money that was stolen, but by the extraordinary harm caused to victims, who in some cases had their life savings wiped out overnight. As a result of his unprecedented fraud, Bankman-Fried faces 25 years in prison, forfeiture of over a billion dollars and restitution to his victims. Source
Ethereum fees for “blobs” – the blockchain’s new dedicated class of cheaper data storage – spiked Wednesday after a project called Ethscriptions created a new way of inscribing data, known as “blobscriptions.” Source link
Gold has a chance to charge ahead of bitcoin as the flagship cryptocurrency hovers around the $70,000 level, according to Wolfe Research. The yellow metal and its digital counterpart have been trading in tandem with each other for the past month, with both reaching new records even as the stock market trades near its highs. However, bitcoin has also been mirroring its own moves from 2021, when the cryptocurrency rocketed twice to all-time highs, just before a deep pullback. “Bitcoin has historically traded like more of a ‘risk asset’ and…
In a new development, VeChain (VET) has announced the introduction of its latest No-Code Tokenized Asset Marketplace-as-a-Service platform (MaaS), fueling optimism within the community of an impendent price uptick. The announcement also featured the collaboration of the MotoGP racing team Gresini Racing as its first enterprise client. By collaborating with Gresini Racing, an enormous fan base will be offered digital collectibles through the MaaS platform. VeChain To Onboard A Rapid Tokenizing World With the launch of its No-Code Tokenized Asset Marketplace (MaaS) platform, VeChain has made tremendous progress toward increasing…
Sam Bankman-Fried, the once-celebrated founder of FTX, a leading cryptocurrency exchange, was sentenced to 25 years in prison today. The sentencing, which took place in a Manhattan court, marks a dramatic fall from grace for Bankman-Fried, who was hailed as a wunderkind in the digital currency space before FTX’s spectacular collapse in 2022. The collapse, attributed to fraudulent activity orchestrated by Bankman-Fried, sent shockwaves through the cryptocurrency industry and resulted in billions of dollars in losses. Prosecutors characterized the scheme as one of the biggest financial frauds in U.S. history.…
He did incalculable harm, but arguing for a sentence longer than 25 years is unfair to the man and the industry he once represented. Source
Investment firm Kerrisdale Capital has called MicroStrategy’s shares ‘overvalued.’ Experts in the latest report claim that MicroStrategy shares have soared on the back of the recent rise in Bitcoin (BTC) prices, but as is often the case with cryptocurrencies, “things have gotten carried away.” “We are long bitcoin and short shares of MicroStrategy, a proxy for Bitcoin which trades at an unjustifiable premium to the digital asset that drives its value.” Kerrisdale Capital experts Part of Kerrisdale Capital’s argument for MicroStrategy shares centered on increasing investor access to financial instruments…
In a highly anticipated courtroom verdict, Sam Bankman-Fried, the founder of the collapsed cryptocurrency exchange FTX, has been sentenced to 25 years in prison for defrauding users. US District Judge Lewis Kaplan delivered the judgment during a Lower Manhattan federal courtroom hearing. FTX Founder Sam Bankman-Fried Sentenced Judge Kaplan sternly criticized the defense’s argument, labeling it as “misleading, logically flawed, and speculative.” As reported by our sister site, Bitcoinist, Kaplan highlighted Bankman-Fried’s obstruction of justice and witness tampering during his defense, which were significant factors considered in the sentencing decision.…
On Thursday, March 28, 2024, the former head of FTX, Sam Bankman-Fried, received his sentence during a federal court proceeding in Manhattan. U.S. Marshals escorted Bankman-Fried into the courtroom at precisely 9:39 a.m. Eastern Time, as reported by Matthew Russell Lee of Inner City Press. Judge Lewis Kaplan said, ” I know the Probation Department […] Source CryptoX Portal
Ki Young Ju, the founder of CryptoQuant, a blockchain analytics firm, has noticed a curious trend. In a post on X, the founder shared a snapshot suggesting that Bitcoin “old whales” might be shifting their holdings to “new whales,” mainly traditional finance heavyweights like Fidelity and BlackRock. The United States Securities and Exchange Commission (SEC) recently approved these new whales to list spot Bitcoin exchange-traded funds (ETFs) for all investors. Bitcoin old Whales moving holdings | Source: Analyst on X “Old Whales” Moving Coins: Selling Or Risk Mitigation? While a definitive sell-off…