Bankman-Fried declared guilty, Bitcoin reclaims $35K, SEC targets PayPal and SafeMoon | Weekly Recap
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 ...