Nearly all of FTX’s former customers will get back almost 100% of the money they lost at the time of the cryptocurrency exchange’s collapse — if not more.
Binance founder and former CEO Changpeng “CZ” Zhao was sentenced to four months in federal prison on Tuesday, first reported by the Associated Press.
Days after Sam Bankman-Fried received a 25-year prison sentence, the FTX founder released a statement to ABC News
It’s official: There will be no further attempts to salvage FTX. The once popular but now defunct crypto exchange that “misplaced” billions of dollars in user assets before collapsing in a heap of scandal is officially headed to the corporate graveyard.
Sam Bankman-Fried may be headed to prison but the story of FTX is far from over. Like an evil spirit, the exchange seems destined to haunt the crypto community for the rest of its days.
Sam Bankman-Fried testified before a jury for the first time on Friday saying he did not defraud FTX customers or take their funds, according to Bloomberg’s live reporting of the trial.
The founders of cryptocurrency exchanges face a mountain of regulatory challenges and billions in personal losses.
