Sam Bankman-Fried, former CEO of crypto exchange FTX, has been convicted on all seven fraud charges at his criminal trial. The charges are related to allegations that Bankman-Fried deceived FTX customers and investors, misusing billions in client funds. The guilty verdict carries a maximum penalty of up to 110 years in prison if Bankman-Fried receives the highest sentence for each count.
Former Federal Prosecutor Renato Mariotti explains that the conviction is “[sending] a message to the crypto industry,” which U.S. regulators appointed by the Biden administration are watching closely. He notes substantial resources were used for this case, defying expectations that Bankman-Fried’s Democratic ties would allow for leniency.
“I really think that there is a desire… emanating from [SEC Chair] Gary Gensler and others within the administration to send a message,” Mariotti tells Yahoo Finance on the regulatory outlook for the greater crypto landscape, adding: “They’ve done it on the regulatory side with the SEC and CFTC actions and I think they are very… much going to be aggressive in the criminal side as well.”
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do Ken Griffin next, billions of securities sold not yet purchased.
Good to see nobody in the jury bought into any of his BS 👏
Sooooo…….
His parents next? 👀
Based on what HARD evidence? Why wouldn’t he bs his parents like he did with everyone else?
Just say Sam Bankman Fryed already.
Jeffrey skilling can finally stop carrying this trophy
The narrator says SBF fell from grace?? He was never IN grace in the first place. Bitcoin is a dark web product with sketchy investors and sneaky paper trails so, if anything, SBF was always out of grace. He was a schemer and he, like all crooks, got caught. Ironically, if he had made mad money for his ” customers ” then he would be heralded as as genius.
Logan Paul should be investigated unless they’re already doing so.
100 years will fly by in no time.
He did it all under guise of altruism. Very cynical and arrogant big wake up call for false prophet detection….
Investigate and prosecute Logan Paul next. Keep making examples of these scam artists.
MEDIA TIME FOR THE BERNIE MADOFF STIMULUS PACKAGE: NETFLIX MOVIE, NIKE SHOE DEAL, BURGER AT MCDONALD’S, HASBRO PLUSH TOY, AMAZON CLOTHING LINE….GOING TO JAIL FOR STEALING FAKE MONEY IS SOOOOOO AMERICAN….🤑🤑🤑🤬👀🤔🤣🤣🤣
GOING TO JAIL FOR STEALING MONOPOLY MONEY IS SOOOOO AMERICAN….GO TO JAIL, DO NOT PASS GO🗽🗽🗽🌏✌🏾
Coincidentally … they fixed his next trial about political donations two weeks before his sentencing
SBF was the second biggest donor for the democratic party after George Soros.
If he doesn”t rat out, he’ll be out on parole or pardoned by the next Biden in 5-7 years. Max
Lock him up.
Crypto James is a Fraud as Well
He will be let out in under 10 years. This is just a ‘show’. He donated how much to Biden??
👍💯👏🌟💐
they should have acted sooner, than later. how can the poor small investors get back their money now?
All because of coffeezilla…
Funny how it’s never mentioned that snake oil salesmen only exist because there are eager buyers clamoring for their wares. Barnum says they’re born every minute.
Yahoo news sucks