Bitcoin miner capitulation metrics are approaching the same level as the market bottom following the FTX crash in late 2022. Daily miner revenue has dropped to $29 million from $79 million following the bitcoin halving earlier this year. The hashrate has slumped by 7.7% since the halving as inefficient miners turn off their equipment. Bitcoin […]
Tag: FTX
Former FTX executive Ryan Salame is not pleased with his prison sentence
The first of Sam Bankman-Fried’s inner circle just received their punishment. On Tuesday, at the same Manhattan courthouse that saw the FTX founder undergo a brutal month of reckoning, a federal judge sentenced his former lieutenant, Ryan Salame, to 7.5 years in prison, even more than the five to seven years that prosecutors had requested. […]
Bitcoin Tumbles Below $60K, Risking Deeper Pullback as Crypto Markets Endure Worst Month Since FTX Crash
Sam Bankman-Fried Agrees to Help FTX Investors Go After Celeb Promoters
Sam Bankman-Fried has inked a settlement agreement with a group of FTX customers who have agreed to drop their class action lawsuit against him in exchange for his help going after celebrity promoters of the collapsed exchange. The agreement, filed in a Miami court on Friday, has not yet been approved by a judge. If […]
Sam Bankman-Fried says he never thought what he was doing at FTX was illegal
Sam Bankman-Fried says he’s “haunted, every day” by what happened at FTX. The disgraced crypto mogul told ABC News that he never thought what he was doing was illegal. Bankman-Fried was convicted of seven criminal counts and sentenced to 25 years in prison last week. Former FTX CEO Sam Bankman-Fried says he “never intended to hurt […]
Judge thrashes Sam Bankman-Fried for claiming FTX customers didn’t lose any money before handing down 25-year sentence
Sam Bankman-Fried, the jailed founder of bankrupt cryptocurrency exchange FTX, sits with his lawyers Torrey Young and Marc Mukasey.REUTERS/Jane Rosenberg Sam Bankman-Fried’s lawyers claimed that FTX customers had “zero” losses when the exchange collapsed. They argued in favor of a light sentence for the convicted crypto mogul on Thursday. The judge was not persuaded. The federal […]
FTX CEO John Ray has harsh words for Sam Bankman-Fried
FTX CEO John J. Ray III, who is representing the creditors seeking billions in restitution from the defunct crypto trading firm, submitted on their behalf a victims’ statement to Judge Lewis A. Kaplan ahead of Sam Bankman-Fried’s sentencing on March 28, 2024. Bankman-Fried was convicted on seven counts of defrauding investors. Ray did not mince […]
FTX founder Bankman-Fried sentenced to 25 years in prison for crypto fraud
Crypto entrepreneur Sam Bankman-Fried was sentenced to 25 years in prison on Thursday for billion-dollar fraud that unravelled with the collapse of FTX, once one of the world’s most popular platforms for exchanging digital currency. Bankman-Fried, 32, was convicted in November of fraud and conspiracy – a dramatic fall from a year earlier when he […]
Sam Bankman-Fried apologizes to FTX ex-colleagues at sentencing hearing
By Luc Cohen and Jody Godoy NEW YORK (Reuters) -Sam Bankman-Fried apologized to his former colleagues at the now-bankrupt FTX cryptocurrency exchange he founded at his sentencing hearing on Thursday, as the former billionaire wunderkind braces for the prospect of decades behind bars. A jury found Bankman-Fried, 32, guilty on Nov. 2 on seven fraud […]
FTX founder Bankman-Fried facing decades in prison for crypto fraud
Former crypto mogul Sam Bankman-Fried faces the potential of decades in prison when he is sentenced on Thursday for his role in the 2022 collapse of FTX, once one of the world’s most popular platforms for trading digital currency. Bankman-Fried, 32, was convicted in November of fraud and conspiracy – a dramatic fall from a […]
Sam Bankman-Fried awaits Thursday sentencing for his role in FTX cryptocurrency exchange fraud
Sam Bankman-Fried will learn his sentence Thursday, four months after he was found guilty of orchestrating the multibillion-dollar fraud that prompted the collapse of the FTX cryptocurrency exchange. Bankman-Fried, 32, was convicted in November by a jury on each of the two counts of fraud and five counts of conspiracy he was facing. He has […]
Sam Bankman-Fried is about to learn how much prison time he gets for FTX crimes
FTX co-founder Sam Bankman-Fried will learn Thursday how much prison time he will get after being convicted of defrauding his customers, investors, and lenders. The entrepreneur who presided over the largest crypto collapse in history faces up to 110 years. Prosecutors have requested a sentence of 40 to 50 years, while Bankman-Fried’s lawyers asked for […]