The price high comes after rival exchange Binance pleaded guilty and traders seemingly priced in Coinbase’s custodian agreements for a slate of spot crypto ETFs.
What’s next for the ‘crypto king’ Sam Bankman-Fried?
The former FTX CEO is headed back to prison and awaits a potential second trial in March, while his lawyers pledged to “continue to vigorously fight the charges against him.”
Sam Bankman-Fried found guilty on all 7 charges in FTX fraud trial
U.S. Attorney Damian Williams called Bankman-Fried’s crimes “a multibillion-dollar scheme designed to make him the king of crypto” and one of the biggest financial frauds in American history.
$4B OneCoin scam co-founder pleads guilty, faces 60 years jail
The co-founder of the fraudulent scheme is set to be sentenced in April 2023 on charges relating to wire fraud and money laundering.
EmpiresX ‘head trader’ to face 4 years of prison over $100M crypto ‘Ponzi’
Two other associates that helped run the U.S.-based fraudulent crypto platform EmpiresX left the country early this year and are believed to be in Brazil.