2023-11-04 16:33:45
After the jury found the former CEO of FTX, Sam Bankman-Fried guilty, several players in the crypto industry commented on the verdict. Sam Bankman-Fried (SBF)’s New York trial before District Judge Lewis Kaplan ended with a jury finding him guilty of all charges. The news stirred up a lot of dust not only within the crypto community, but also in the mainstream media, and provoked many reactions from the actors of the crypto sector. Uniswap founder agrees with ruling Hayden Adams, founder of Uniswap, noted that the ruling is not necessarily a victory for the crypto industry, as “billions of dollars of customer money have been lost and our industry has suffered a huge reputational blow.” At the same time, Adams admitted that he agreed with the verdict and called SBF’s activities harmful to the crypto community: “I don’t accept his altruism at all – I think it’s a clever marketing ploy. He profited from unfair business that harmed people, but he can call himself an altruist because he says he will eventually donate all his money.” The head of Uniswap also said that the real beneficiaries of the case are crypto-skeptics, who will continue to use the case to cast the crypto sector in a bad light. “In the next period, the industry needs to do better – we need to focus on technology and our values, recognize the warning signs and ignore the cult of personality sociopaths.” Adams added. “SBF ran a ‘safe’ exchange and was not caught by any regulator” Alfred Lin, an associate at the venture capital firm Sequoia Capital and former CFO of Zappos.com, also said about Thursday’s ruling: “Today’s swift and unanimous ruling confirms what we already knew: SBF misled and deceived many, from customers and employees to business partners to investors, including myself and Sequoia.” Meanwhile, ShapeShift founder Erik Voorhees took the opportunity to highlight the role of regulatory authorities in the situation. “Let’s remember that he operated a ‘safe and regulated’ exchange, and no regulator caught him…” Adam Cochran, an employee of venture capital fund Cinneamhain Ventures, emphasized that the verdict serves as a reminder to the players in the crypto industry, because he believes that sooner or later they will fall anyway. , who play with people’s money, and whoever cooperates first usually faces the lightest punishment. Cochran also noted that Bankman-Fried’s situation was significantly worsened by the incriminating testimony of her former associates, including former Alameda Research CEO Caroline Ellison. “Caroline and the others confessed first and face a much lighter sentence… So do you really trust your accomplices when your future is at stake?” Cochran added.
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