Crypto Traders Are Ready to Move Past Sam Bankman-Fried
FTX was old-fashioned criminal fraud. SBF never believed in decentralization. And now the industry can move on.
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FTX was old-fashioned criminal fraud. SBF never believed in decentralization. And now the industry can move on.
(MIT Bitcoin Club, Mercatus Center, Cointelegraph/Wikimedia Commons, modified by CoinDesk)
Twelve jurors spent less than five hours deciding the facts. They asked for portions of transcripts from Paradigm’s Matt Huang and Third Point’s Robert Boroujerdi testimony, as well as highlighters and Post-it Notes, and when they didn’t immediately receive the version of the indictment, they requested that too. And yet, they quickly decided that Bankman-Fried was guilty on all seven counts.
(Marques Thomas/Unsplash, modified by CoinDesk)
Is Sam Bankman-Fried going to prison? Five weeks into his criminal trial, 12 randomly selected New Yorkers are preparing to discuss among themselves whether they believe he violated federal law or not.
In this week’s edition of The Protocol newsletter, we explain the mechanics (and roots) behind the “data availability” network Celestia, and its new TIA tokens, and turn our eyes to Starknet’s STRK tokens, which aren’t trading yet but are already being awarded to early contributors.
The FTX founder was never a man of crypto and the industry is moving on without him, says Laura Shin.
And why is it causing so much controversy in court?
Sam Bankman-Fried began his testimony like the brilliant former golden boy from crypto’s better days. He ended the longest, strangest, most torturous day yet of his criminal trial more imperiled than ever before.
Sam Bankman-Fried has said a lot in the months after FTX collapsed about what happened. What’s left for him to discuss?