Once a good friend of mine told me, "with cryptocurrencies you are entering a world full of danger", of course I think that his appreciation was exaggerated and focused on the volatility of the price action in the cryptocurrency market, however, people like Sam Bankman-Fried represent a real danger to the health of the market.
I wanted to bring you an article about the recent conviction decision imposed on the swindler Sam Bankman-Fried, according to information disclosed by the international news portal BBC the founder of FTX who in years ago was considered "the king of cryptocurrencies" was sentenced to 25 years in prison.
In this regard and in correspondence to the BBC News World editorial line, "On Thursday, in his appearance in court, Damian Williams, U.S. Attorney for the Southern District of New York, said that Bankman-Fried "orchestrated one of the largest financial frauds in history".
It was learned that, "Judge Lewis Kaplan handed down the 25-year prison sentence and indicated that he will not recommend sending Bankman-Fried to a maximum security prison because he has no reason to believe he is violent."
It should be noted that, "During the trial, evidence was presented that the now-convicted cryptocurrency trading company, Alameda Research, received deposits on behalf of FTX customers from the early days of the platform, when traditional banks were unwilling to allow him to open an account."
SOURCES CONSULTED
BBC. Sam Bankman-Fried, the FTX founder who was considered "the king of cryptocurrencies," sentenced to 25 years in prison. Link
OBSERVATION:
The cover image does not belong to the author: @lupafilotaxia, the image was taken from: BBC
