Better

Winter

Read

Time

<p>The collapse of FTX and the sentencing of Sam Bankman-Fried raised questions on the legitimacy of the entire crypto world. In the middle of scrutiny, Better Markets CEO has advocated for the sentencing and jailing of former FTX executives.</p>
<h2 id="better-markets-ceo-calls-for-ftx-executives-to-serve-jail-time">Better Markets CEO Calls for FTX Executives to Serve Jail Time</h2>
<p>In an interview with <a rel="noopener noreferrer nofollow" href="https://www.bloomberg.com/news/videos/2024-04-02/crypto-is-a-lawless-industry-better-markets-ceo-video?utm_campaign=socialflow-organic&amp;utm_content=crypto&amp;cmpid%3D=socialflow-twitter-tv&amp;utm_medium=social&amp;utm_source=twitter" target="_blank">Bloomberg</a>, Dennis Kelleher, CEO of Better Markets said cryptocurrency is a “lawless industry” with “no legitimate use case”. He also added that former FTX executives should see jail time and possibly even be banned from financial markets forever.</p>
<h2 id="ftx-creator-sbf-sentencing">FTX Creator SBF Sentencing</h2>
<p>In what was a setback for the crypto world, <a href="https://coingape.com/sam-bankman-fried-sentenced-to-25-years-in-prison/" target="_blank" rel="noopener noreferrer nofollow">Sam Bankman-Fried</a>, the creator of FTX, was found guilty of several offenses, including money laundering and fraud, which were connected to the demise of his cryptocurrency exchange, FTX. As a result, he was sentenced to 25 years in jail.</p>
<p><strong>Read Also: <a href="https://coingape.com/terraform-ex-pr-chief-exposes-deceptive-tactics-in-court/" target="_blank" rel="noopener noreferrer nofollow">Terraform Ex-PR Chief Exposes Deceptive Tactics in Court</a></strong></p>
<p>Judge Lewis A. Kaplan oversaw the sentence hearings in Manhattan federal court. Bankman-Fried, who was 32 years old, might have received a sentence that was considerably longer—up to 110 years. This decision clarifies the turbulent circumstances that led to the sudden collapse of FTX, a once-thriving cryptocurrency exchange with a peak valuation of over $30 billion.</p>
<h2 id="sbf-sentencing-leads-to-heightened-scrutiny-for-crypto-markets">SBF Sentencing Leads to Heightened Scrutiny for Crypto Markets</h2>
<p>Bankman-Fried’s sentencing saw the crypto market face huge scrutiny from worldwide. People are now questioning the legitimacy and security in the digital currency space. However, the <a href="https://coingape.com/sam-bankman-fried-will-be-on-supervised-release-for-years-after-prison-term/" target="_blank" rel="noopener noreferrer nofollow">collapse of FTX</a> and the sentencing seems like a downfall that could happen in any market space.</p>
<p>At present, Bankman-Fried is subject to severe financial consequences, such as fines and reparations, in addition to being released under supervision. The court decided against imposing a direct restitution order due to the intricacy of the case and the number of victims. Rather, the government’s request to use a remission process to provide victims with assets that had eventually been forfeited was approved.</p>
<p>Bankman-Fried will serve an overall period of 300 months in the custody of the Federal Bureau of Prisons as part of the sentencing, which also includes jail time. This phrase emphasizes the seriousness of his acts and the seriousness of the transgressions.</p>
<p><strong>Read Also: <a href="https://coingape.com/paradigm-to-raise-850m-in-biggest-fundraise-since-crypto-winter/" target="_blank" rel="noopener noreferrer nofollow">Paradigm To Raise $850M In Biggest Fundraise Since Crypto Winter</a></strong></p>
<p>The post <a href="https://coingape.com/better-markets-ceo-demands-former-ftx-executives-jail-time-amid-high-scrutiny/" rel="noopener noreferrer nofollow">Better Markets CEO Demands Former FTX Executives Jail Time Amid High Scrutiny</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.</p>

Better Markets CEO Demands Former FTX Executives Jail Time Amid High Scrutiny

Mục lục

Coingape News Media

Các bài viết khác được xuất bản trên 2 thg 4, 2024

Dogwifhat Price Prediction: WIF Plummets 11% As This New Solana Meme Coin Rockets Past $6M

Mantle Coin Overcomes Whale Sell-Offs

TON’s price rally – Why $6 is the next prediction

Ethereum Co-Founder Enters The Fray, Delivers Key Remarks On Layer 3

Taiwanese music star’s memecoin undergoes wild price action

Cardano Faces a Challenging Market with Significant Price Retreat

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!