SBF Receives Quarter-Century Prison Sentence!

Bankman-Fried was sentenced to 25 years in prison after his conviction on seven felony charges linked to FTX's 2022 collapse.

Danielle du Toit
March 29, 2024

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Sam “SBF” Bankman-Fried, the ex-CEO of FTX, was sentenced to 25 years in prison by Judge Lewis Kaplan.

Sam Bankman-Fried was convicted on seven felony charges linked to FTX's collapse in November of 2022. He is also the first among those associated with FTX and Alameda Research to be incarcerated.
The judge also made an $11-billion judgment against Bankman-Fried to compensate for the huge financial damages suffered by FTX investors, lenders, and customers.
SBF’s defense did try to downplay the financial losses, but this was dismissed by Judge Kaplan.

The investment landscape is shifting, especially considering recent doubts about the relevance of MicroStrategy.

The introduction of several spot Bitcoin ETFs offers a much more direct investment option in Bitcoin, which challenges MicroStrategy's market position.
There's a noted discrepancy between MSTR's stock valuation and the intrinsic value of Bitcoin, bringing into question the sustainability of MSTR's premium with the rise of other investment opportunities.
Kerrisdale Capital is bullish on Bitcoin but has reservations about MicroStrategy's stock valuation, suggesting that the current price implies an unrealistic valuation of Bitcoin.

Open interest in Bitcoin Cash has not reached its current level since May of 2021.

Traders are aggressively safeguarding their positions in anticipation of the Bitcoin Cash (BCH) halving which is expected to happen on Apr. 4, according to NiceHash data.
Bitcoin Cash futures perpetual contracts' open interest hit an all-time high of $708.75 million on Mar. 28, a 18.26% surge in 24 hours and a 165% increase over the past week.
Despite Bitcoin nearing its fourth halving at record levels, Bitcoin Cash's value remains well below its December 2017 all-time high of $4,355.

Former executives from FTX and Alameda have agreed to share information to assist the class group's lawsuit against other FTX promoters.

Former FTX executives and promoters have agreed to a settlement of $1.36 million with a class action group of the exchange's past investors, who seek compensation for fraud.
FTX co-founder Zixiao “Gary” Wang, former engineering lead Nishad Singh, and Alameda Research's former CEO Caroline Ellison pledged to cooperate and provide information to support the lawsuit in settling the claims made against them.
Settlements have also been finalized with seven other influencers and the former chief regulatory officer of FTX, along with the chief compliance officer of FTX.US, Daniel Friedberg.

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