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.
OTHER NEWS
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.
