Crypto Today 32

Scam King SBF sentenced to 25 years

By Yugocean | Crypto Today | 29 Mar 2024

 SBF sentenced to 25 years in prison and forfeiture of $11.02 billion

   Judge Lewis Kaplan sentenced Sam Bankman-Fried to 25 years in prison for the FTX-Alameda scam and also ordered forfeiture of $11.02 billion from him.

SBF's trial took place in the Federal Court for the Southern District of New York. Prosecutors were seeking 50 years in prison for SBF; SBF's lawyers had requested six and a half years. Judge Kaplan took a middle path.

With this, the story of SBF ends. Or perhaps not, if SBF still has money to pay attorneys' fees for the appeal to the Second Circuit Court.



Hack / Scam / Fraud

  • Free Ross Campaign :  Ross Ulbricht supporters took to social media while comparing the Ross Ulbricht v. Sam Bankman-Fried crime and punishment saga.
  • Prisma Finance Hacked: The liquid restaking protocol Prisma Finance exploited of around 3,257.7 ETH.
  • Bobaoppa rugpull is sucessful: Despite being exposed by ZachXBT as rugpullar, Jeffery Huang raise 19k SOL for Bobaoppa stablecoin.


Altcoins & Blockchains 

 Vitalik on Ethereum Blobs:  Vitalik Buterin discussed the growing usage of Ethereum and the issue of blobs, he feels the need to end scaling. It seems Vitalik has new plans. 


CEX / DEX / CeFi / DeFi / Wallet

OKX Taking care of its crypto business
  • 17th Proof Of Reserve : OKX, has announced the seventeenth POR (proof-of-reserve). The data for the POR is based on March 25th. All assets are backed by reserves in a 1:1 ratio.( OKX's 17th POR )..
  • Delisting USDT in EU: OKX is delisting USDT trading pairs in EU regions to compel with MiCA. It is supposed that Euro based stablecoins will take place in EU. 
  • Top priority in US: OKX has given its US-based compliance department top priority following KuCoin's lawsuit by US regulators. Binance has already been hit by the US anti-crypto bug, so OKX will not miss out on its future.



International Incident 

 Garantex under investigation:  US and UK are investigating Garantex, a sanctioned Russian exchange, for transferring 20B USDT to Russian debt collecting gangs.



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