At the same time, his lawyers are actively negotiating in court and doing everything possible to free him while he is still alive.
In parallel, his lawyers are actively negotiating in court and doing everything possible to free SBF while he is still alive.
The old one FTX CEO Sam Bankman-Fried (SBF), is currently in custody at the Metropolitan Detention Center in Brooklyn, New York. While he awaits his sentencing, he apparently has plenty of time to advise prison guards on which cryptocurrency to invest in. Spoiler: it’s an altcoin.
In parallel, his lawyers are actively negotiating in court and doing everything possible to free SBF while he is still alive. They argue that a shorter prison sentence is appropriate given their client’s efforts to compensate users of the bankrupt cryptocurrency exchange.
SBF, founder of the FTX exchange, faced liability for users’ billion-dollar losses following the collapse in November 2022, sbeing convicted of fraud. Since the sentencing at the end of 2023, a decision awaits on the sentence that could be up to 110 years in prison. His lawyers have until March 28 to secure a more lenient sentence.
Solana: a good investment
In a request recently filed in federal court in Manhattan, SBF seeks a prison sentence between 5.5 and 6.5 years. TOAlthough it may seem small compared to the possible maximum penaltyjustify it in a legal opinion, highlighting that “Bankman-Fried deeply regrets the damage it has caused over the last two years. Its only objective after the collapse of FTX was to compensate clients.”
As the former FTX CEO’s defense wages a legal battle outside prison walls, SBF shares cryptocurrency tips from his cell.
He reportedly recommended the guards buy Solana (SUN)a detail that was highlighted by Wu Blockchain in an X (formerly Twitter) post: “According to the New York Times, SBF has been incarcerated at the Brooklyn Metropolitan Detention Center since last summer and has been giving guards advice on the cryptocurrency market and recommending them to invest in Solana“.
Source: Ambito
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