Crypto entrepreneur Sam Bankman-Fried was found guilty in a criminal trial, sparking a deluge of reactions across the Crypto Twitter community.
The verdict was delivered by a New York jury on Wednesday night. Bankman-Fried’s trial drew considerable attention, culminating in a guilty verdict that has stirred up the crypto community.
The verdict was met with a variety of reactions, from smug schadenfreude to more sober reflections. Crypto analyst and venture capitalist Adam Cochran warned other crypto operators, stating, “If you play with people’s funds, they’ll get you in the end.”
He further noted that Bankman-Fried was largely doomed by the damning testimonies of former colleagues. Former Alameda CEO Caroline Ellison, who came forward early, will face minimal jail time, while the FTX co-founder “likely faces life in prison.”
Other voices on Crypto Twitter shared Cochran’s sentiment. Nic Carter, founder of CoinMetrics, posted a succinct “RIP BOZO,” while convicted felon Martin Shkreli expressed sympathy for Bankman-Fried, stating, “There is no victory for anyone here.”
The verdict comes a year after Coindesk revealed troubling finances of the crypto exchange FTX. The report triggered a chain reaction that shook the crypto industry.
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