SBF Trial is over, Judgement awaits chance

By Yugocean | Crypto Champion | 2 Nov 2023

     The trial of scam king SBF has been completed, while billions of assets have been transferred by the FTX empire.


SBF Trial is Complete

     SBF's lawyers and prosecutors have completed their proceedings in the trial of SBF, the founder of the FTX empire, going on in the Southern District Court of New York. His old associates Caroline, Wang, Nishad Singh, and others have also testified against SBF. Now judgement will be given.


FTX Empire is moving assets

     While this trial was taking place, both major factions of the FTX empire, FTX Exchange and Alameda Research, transferred their digital assets. Most transfers were made to rival CEXs like Binance, Kraken, and Coinbase. The reasons for this are unclear.

Potential Consequences

     SBF may get a longer sentence, while his associates may get lesser punishment due to him becoming a government witness. The new executives of FTX/Alameda are obliged to return most of the investors' investments. There may also be political pressure on Democrats to return the contribution taken from SBF.

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