“The end of the Wild West”: What awaits crypto after the Bankman-Fried’s case
Sam Bankman-Fried’s conviction may signal a turning point, ushering in stringent regulations and a new era of transparency in the crypto world. On Nov. 2, a jury found FTX founder Sam Bankman-Fried guilty of all criminal charges. Judge Lewis Kaplan of the Southern District of New York will hand down the final verdict on March 28, 2024. The trial in the case of the collapsed crypto exchange FTX has already definitely gone down in history, joining the ranks of other major crimes in the crypto industry. Against the backdrop of the guilty verdict, members of the crypto community are wondering what awaits the crypto industry and how the court’s decision will change the current rules of the game. Guilty on all counts The jury included nine women and three men. The discussion lasted for four hours and resulted in SBF being found guilty on all seven charges, including fraud and conspiracy. Each count carries a maximum penalty of 5 to 20 years in prison. Collectively, Bankman-Fried ...