2023-11-03 20:17:25
Voices rose from the cryptocurrency community on Friday to celebrate the conviction of the former darling of the sector, Sam Bankman-Fried, convicted of fraud, with the hope of turning a page, without illusion.
“This verdict should hopefully mark the end of a dark period for our industry“, commented on X (ex-Twitter), Yat Siu, president of Animoca Brands, video game publisher and investor in projects linked to blockchain, the underlying technology of cryptocurrencies.
A New York jury found Sam Bankman-Fried guilty on Thursday of the seven counts brought once morest him, mainly fraud, criminal conspiracy and money laundering.
“SBF” used, without their knowledge, client funds deposited on his cryptocurrency exchange platform FTX to fuel the risky investments and transactions of his investment company, Alameda Research.
Alameda will have drawn up to 14 billion dollars from FTX users, who noticed that 8 billion were missing at the time of the platform’s bankruptcy in November 2022. His sentence is due to be pronounced on March 28, 2024. He faces more than 100 years in prison.
1699068786
#world #cryptocurrencies #celebrates #conviction #Sam #BankmanFried
