SBF Just Got The Largest Bail In White Collar History? Here’s More

SBF Bail News: The release of Sam Bankman-Fried (SBF) on a secured bail bond surprised many in the crypto community. A section of crypto analysts and traders have been expressing anguish on the whole scenario. This is in the context of the huge loss incurred due to the FTX collapse. In a matter of few days, the FTX exchange went down from a valuation of $32 billion to just $1 billion. The news of FTX liquidation crisis brought the FTX token (FTT) price dropping in a rapid pace.

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Sam Bankman-Fried (SBF) Bail One Of The Largest

In the context of FTX falling down from a valuation of $32 billion to $1 billion, the SBF bail is being touted as one of the largest in the history of white collar crimes. This comes after SBF recently revealing that he holds no more than in $100,o00 in cash. He made the comments following the FTX bankruptcy announcement. While announcing the FTX bankruptcy, the company also announced SBF’s resignation as the company CEO. Following this, John J. Ray III took charge as the new FTX CEO to see the company through the bankruptcy process.

“Funny how SBF is able to post the $250M bail not long after saying he only had $100k. So he probably is using stolen customer deposits to stay out of jail.”

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Meanwhile, the FTX token (FTT) price continues to trade at extremely low levels compared to the November first wee levels. As of writing, FTT price stands at $1.00, up 18.06% in the last 24 hours, according to price tracking platform CoinMarketCap.

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Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.