Michael Lewis Says Sam Bankman-Fried Wanted To Pay Donald Trump Billions Not To Run For Presidential Race: 'There Was A Number'
Portfolio Pulse from Mehab Qureshi
Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, is facing federal fraud charges. The trial is set to commence this week. Bankman-Fried is accused of misusing $8 billion of investors’ money. He maintains his innocence and is even willing to decline a plea deal of six months of house arrest. If convicted, he faces a lengthy prison sentence exceeding 100 years. Bitcoin (CRYPTO: BTC) was trading at $28,047.06 up 3.88% in the last 24 hours.
October 02, 2023 | 5:41 am
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NEUTRAL IMPACT
The trial of FTX founder Sam Bankman-Fried could impact the price of Bitcoin. The outcome of the trial could either increase uncertainty in the crypto market or restore confidence, depending on the verdict.
The trial of Sam Bankman-Fried, the founder of FTX, could have a significant impact on the price of Bitcoin. If he is found guilty, it could increase uncertainty in the crypto market, potentially leading to a drop in Bitcoin's price. On the other hand, if he is found not guilty, it could restore confidence in the market and potentially lead to a rise in Bitcoin's price.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 75