China News by Thebittimes.Com

This week, the jury declared FTX founder Sam Bankman-Fried guilty of all charges leveled against him. The market also sustained a bullish run, while the SEC continued its industry-wide crackdown. Sam Bankman-Fried found guilty After 18 days of trial, Sam Bankman-Fried was found guilty of all seven charges, triggering a reaction from the crypto community.  The verdict, scheduled for March 28, 2024, has created anticipation within the scene. Pro-crypto attorney John Deaton asserts that Bankman-Fried could face 30 to 40 years. Meanwhile, David Lesperance, Managing Director at Lesperance & Associates, sees a possible 20 year sentence. Bankman-Fried’s associates, Caroline Ellison, Gary Wang, and Nishad Singh, are likely to face sentencing, according to Bloomberg. These allies may avoid significant prison time, potentially serving in minimum security facilities for non-violent offenders. Bitcoin sustains rally, holds above $35K Bitcoin (BTC) experienced a bullish ...

In an ongoing court case, self-proclaimed Bitcoin creator Craig Wright filed an attestation claiming that he earns $13,250 in monthly income yet spends over $38,000 on living expenses. This is in spite of his claim — on that same legal form — to owning no real estate, having no bank account, and living with his unemployed wife. US Magistrate Judge Bruce Reinhart previously ordered Wright to fill out Form 1.977 in Florida Southern District court. Wright didn’t disclose any bitcoin holdings. He said that his monthly expenses were partially paid via an American Express credit card, yet he didn’t explain how he could be paying off that credit card without any bank account. As reported by Law360, attorney Andrew Brenner, who represents W&K Info Defense Research LLC in the court case, said the filing made no sense. In his view, Wright is attempting to obscure his assets .  He floated the idea that Wright might be selling bitcoin to make up the difference between his monthl...