Millions of crypto money SBF, which caused its investors to lose billions of dollars, is back on the scene. After the crypto exchange FTX went bankrupt in November 2022, it was revealed that the managers did not care about many rules and even defrauded investors. Now SBF says that the guilty party is not itself, but the judge who decided the penalty.
FTX Case Latest Status
SBF’s accomplices will soon face a criminal hearing. It is expected that billions of dollars in cash will be returned to the victims before the end of the year. Indeed, this situation means an increase for the cryptocurrency markets. However, Sam complained about the judge today, saying that the sentence given to him was wrong.
According to the NY Times report, SBF’s lawyers, who filed an appeal, are blaming the judge. In the 10-page appeal, Judge Kaplan FTX‘s decisions restricting its founder from presenting evidence and barring him from presenting his defense are cited. Lawyer Alexandra AE Shapiro said:
“Sam Bankman-Fried was never presumed innocent. He was presumed guilty by the judge who presided over his trial.”
Sam’s Lawyer is probably saying this because of the huge defense fee he gets, but before SBF was taken into custody, he made a statement to his clients in an X Space broadcast in November saying that he didn’t actually cryptocurrencies admitted to selling it.
It is unlikely that the federal convictions will be appealed and a resolution will be forthcoming, but SBF’s parents are trying everything they can.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
