Cryptocurrency Legal News

The latest cryptocurrency legal stories, summarized by AI

FTX Founder Sam Bankman-Fried Appeals 25-Year Fraud Conviction

Sam Bankman-Fried, founder of FTX, has filed an appeal against his 25-year prison sentence and fraud conviction related to misappropriating around $10 billion in customer money at the cryptocurrency exchange FTX and a related hedge fund, Alameda Research. The appeal will be heard by the 2nd Circuit U.S. Court of Appeals in Manhattan, but the odds of having the conviction overturned are low. Bankman-Fried's lawyer did not immediately respond to a request for comment. Four other top executives at FTX and Alameda previously pleaded guilty, and one of them is due to be sentenced soon.

1 year ago•Source: CNBC

"Sam Bankman-Fried Reflects on Sentencing and Crypto Dream"

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3.41 min•1 year ago

"Sam Bankman-Fried Reflects on Sentencing and Crypto Dream"

Sam Bankman-Fried, the founder of FTX, expressed remorse in an exclusive interview with ABC News after receiving a 25-year prison sentence for fraud related to the collapse of the cryptocurrency exchange. He acknowledged making bad decisions that led to FTX's insolvency and expressed regret for the losses suffered by customers, employees, and charities. Bankman-Fried plans to appeal his conviction, citing unfair trial proceedings and the defense's inability to present crucial evidence. He emphasized his desire to make a positive difference in the world but acknowledged that he is unable to do so from prison.

via ABC News