FTX fallout: SBF trial may perhaps well space precedent for the crypto business

FTX fallout: SBF trial might maybe presumably maybe furthermore set apart precedent for the crypto industry

After the collapse of important cryptocurrency change FTX in November 2022, broken-down CEO Sam “SBF” Bankman-Fried modified into arrested by Bahaman authorities on Dec. 12. Excellent a day later, the US Securities and Alternate Charge and Commodity Futures Trading Charge filed prices in opposition to him for allegedly defrauding merchants and violating securities licensed guidelines.

On Dec. 22, Bankman-Fried modified into granted bail on a $250 million bond paid by his other folks in opposition to the equity in their condominium. The bail expose added that he would require “strict pretrial supervision,” at the side of mental smartly being treatment and review. The broken-down CEO faces eight legal counts in the US, which might maybe presumably maybe furthermore lead to 115 years in detention heart if convicted.

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