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Sam Bankman-Fried’s lawyers have pushed back against the U.S. government’s sentencing memo which makes the case for why it thinks the former FTX CEO should be handed a sentence in the range of 40-50 years, a court filing on Wednesday shows.
While spending his days behind bars, the once-touted ‘King of Crypto’ and founder of the disgraced cryptocurrency trading platform FTX, … Continue reading
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Restitution paid to victims can be considered when sentencing, and judges in the Southern District of New York routinely impose shorter terms than guidelines suggest for white-collar cases.
The company’s collapse a year ago sent shockwaves through the world of crypto, but it changed very little in the new EU crypto regulation. Brussels is more interested in the question of what the pseudonymous crypto-asset world is good for, says Dea Markova.
Bankman-Fried may have been convicted, but The Bahamas appears to be dealing with the stigma of rolling out a red carpet for FTX.
Jon Corzine and Sam Bankman-Fried were both politically-connected business leads who lost over $1 billion in customer funds, though their different outcomes shows that regulation does not always achieve what is promised. (Wikimedia Commons/CoinDesk)
(MIT Bitcoin Club, Mercatus Center, Cointelegraph/Wikimedia Commons, modified by CoinDesk)
A set of filings from Sam Bankman-Fried’s defense team late Monday shows his attorneys still hope to clarify that English law governed FTX’s terms of service – which may have implications on the fraud charges.
In a series of filings throughout Thursday, the Department of Justice and Sam Bankman-Fried’s defense crossed swords on issues ranging from charts the defendant wants to use in his testimony to an ongoing question of whether the defense can rely on a presence of counsel argument.