- FTX Founder Sam Bankman-Fried and Binance Founder Changpeng Zhao faced prison sentences of 25 years and 4 months, respectively.
- The crypto titans who once ruled the crypto world fell following stringent regulatory scrutiny.
- Lawyer Braden Perry highlights that these cases show the dark and illicit corners of crypto.
FTX’s Sam Bankman Fried and Binance’s Changpeng Zhao, once the rulers of the crypto world, recently faced legal challenges and prison sentences, showcasing the space’s unpredictable nature. With the court ruling 25 years of imprisonment for Bankman Fried and a 4-month sentence for Zhao, the prolonged battle between the crypto titans reportedly ended in an anticlimactic finish.
Braden Perry, a former senior trial lawyer of CFTC, commented that the cases surrounding Bankman-Fried and Zhao highlight the “dark and illicit corners of crypto.” He added,
“Comparing CZ and SBF, both figures emerged as prominent in the cryptocurrency sector but under vastly different circumstances…The nature of their alleged crimes reflects different aspects of the ‘dark’ and illicit corners of crypto: CZ’s case seems to focus on regulatory and compli…The post FTX and Binance Founders’ Legal Cases Show Crypto’s Dark Corners appeared first on Coin Edition.