Why was Ryan Salame given a sentence longer than prosecutors recommended?
U.S. authorities had requested a judge impose a sentence of five to seven years on the former FTX Digital Markets co-CEO, but one ordered Ryan Salame to spend 90 months in prison.
Months after his guilty plea to prosecutors, former FTX Digital Markets co-CEO Ryan Salame learned he would likely be spending more than seven years in federal prison after pleading guilty to two felony charges.
On May 28, Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York considered sentencing recommendations from Salame’s legal team and prosecutors and ordered the former FTX executive to spend 90 months in prison. The judge’s decision reflected more time behind bars than even prosecutors recommended — up to seven years — and was considerably higher than what Salame’s lawyers requested: 18 months.
Taking to X for the first time since November 2022, Salame said the situation was “going to get interesting quickly” without directly referring to his sentencing and suggested he had no plans to flee the United States as “family [was] more important than anything.” A May 14 court filing stated that Salame had a child with his partner, Michelle Bond, in November 2023.
Luxor and Bitnomial launch first Bitcoin mining derivative in the US
The new Bitcoin Hashrate Futures, a regulated derivative for hedging and investing in Bitcoin mining, is now available in the US.
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European Commission Arm Says Convergence of Blockchain and AI Is ‘Upcoming Trend’ To Watch
European Union (EU) researchers think the convergence of blockchain technology and artificial intelligence (AI) could have “significant potential.” In a new report, the EU’s Blockchain Observatory and Forum (EUBOF), an initiative that monitors distributed ledger developments across the continent, probed the current regulatory status of crypto assets in the 27 EU member states, as well […]
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Altcoins Poised To Rip in First Major Market Expansion Since 2021, According to Crypto Analyst – Here’s His Outlook
A popular crypto analyst says technical indicators are suggesting altcoins are about to go parabolic. Pseudonymous analyst TechDev tells his 452,400 followers on the social media platform X that several indicators suggest the crypto market is replicating a 2020 pattern that led to a massive bull cycle. “The entire crypto market has just begun its […]
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SHIB whale realizes 41,900% profit after three years
Investor scores a 41,900% profit on SHIB, turning $2,625 into $1.1 million, amidst a fluctuating meme coin market.
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New York Attorney General Says She Will ‘Go After’ Crypto Companies Who Don’t Play by the Rules
New York Attorney General (NYAG) Letitia James is issuing a warning to crypto companies, saying that she will pursue those who act in violation of the law. In a post on the social media platform X, James says her sights are locked on erring digital asset firms. “Crypto companies must play by the same rules […]
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Weekly Institutional Investments Push Year-to-Date Inflows to Record High of $14,900,000,000: CoinShares
Digital assets manager CoinShares says institutions poured over a billion dollars into crypto products last week amid the U.S. Securities and Exchange Commission’s (SEC) Ethereum (ETH) exchange-traded product (ETP) approval. In its latest Digital Asset Fund Flows report, CoinShares says digital asset investment products reached a new record last week when crypto exchange products reached $14.9 billion […]
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Bitcoin Corrects As $9,666,000,000 Worth of Mt. Gox Coins Suddenly Start Moving
Bitcoin touched the $67,409 level early Tuesday on news that former crypto exchange Mt. Gox rearranged nearly $10 billion in BTC. Mt. Gox was at one point the world’s largest Bitcoin exchange before abruptly going bankrupt and “losing” most of its coins due to theft. The exchange ultimately recovered most of its coins and has […]
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Argentinian Regulators Meet With El Salvador Official To Explore Bitcoin and Crypto Adoption
Argentinian government officials met with El Salvador’s top crypto regulator last week to discuss the role of digital assets in society. Roberto E. Silva and Patricia Boedo, the president and vice president of the Comisión Nacional de Valores’ (CNV), Argentina’s market regulator, spoke with Juan Carlos Reyes, president of the National Commission of Digital Assets […]
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Halving of BTFS Storage Rewards
BTFS announces a reward halving for storage miners starting June 25, aiming to optimize network growth and node performance.
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Ex-FTX exec Ryan Salame sentenced to nearly 8 years, fined $11 million
Ryan Salame, former FTX executive, sentenced to 90 months for fraud and unlicensed money transmission, faces $11M in penalties.
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Former FTX Executive Ryan Salame Sentenced to 7.5 Years for Criminal Charges
Former FTX executive Ryan Salame was sentenced to seven and a half years in prison by Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York after pleading guilty to criminal charges, including engaging in an unlawful political influence campaign and operating an unlicensed money transmitting business. Salame, who once […]‘Asia’s MicroStrategy’ Metaplanet to acquire ¥250 million worth of BTC
Metaplanet will invest an additional 250 million in Bitcoin, building on its pioneering crypto portfolio in Japan’s corporate sector.
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Semler Scientific acquires $40 million in Bitcoin, shares surge 32%
Semler Scientific adopts Bitcoin as its primary treasury reserve, purchasing 581 bitcoins for $40 million, signaling trust in its investment value.
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Bitcoin Hashrate Hits Record High, Surpasses Pre-Halving Levels
Bitcoin’s hashrate has rebounded to the historic highs seen just before the fourth reward halving event. According to the seven-day simple moving average, the network’s hashrate reached a record 657 exahash per second (EH/s) this week. Bitcoin Hashrate Reaches Unprecedented 657 EH/s Following a significant drop post-halving, much of the hashrate has returned to the […]Torque Drift 2 devs quit after Web3 pivot; game NFTs are not securities: Web3 Gamer
Ten devs quit Torque Drift 2 after studio added blockchain, Saga CEO says in-game assets aren’t securities, MetaFighter review: Web3 Gamer.
Changing direction can be nerve-wracking for any company. But when Grease Monkey Games founder Arran Potter told the team they were moving into Web3 gaming, he had no idea it would result in 10 employees quitting the compnay.
We told the studio this is whats happening. Were going into this space, then we lost a bunch of staff. They just didnt want to make a Web3 game, Potter tells Web3 Gamer.
We lost maybe 10 people over a period of a month or so, he adds.
Dogwifhat and Bonk Prices Pull Back But Sealana Presale Hits $3M Mark
It’s been another volatile 24 hours in the meme coin market. Dogwifhat (WIF) and Bonk (BONK) have cooled off from their recent rallies as traders opted to take profits. Meanwhile, the new seal-themed token Sealana (SEAL) is in the spotlight after passing the $3 million milestone in its limited-time presale phase. WIF Takes a Breather, […]Huobi co-founder’s firm recovers 108% of deposits from FTX collapse
The creditors’ claims were sold for cash to Delaware-based Ceratosaurus Investors LLC.
Hong Kong investment holdings company Sinohope, created by Huobi (HTX) exchange co-founder Leon Li, will recover more than 100% of its stuck deposits on the defunct crypto exchange FTX via its Hbit subsidiary.
According to a May 24 announcement that began circulating on May 28, Hbit has sold $19.5 million worth of creditor claims to debt investment firm Ceratosaurus Investors LLC. At the time of collapse in November 2022, Sinohope had $18.1 million worth of deposits stuck on FTX. The deal implies a recovery ratio of 108% of the firm’s assets.
Sinohope was materially impacted by the unreturned funds. On Dec. 13, 2023, the firm disclosed that it expects a loss of $280 million Hong Kong dollars ($35.86 million) for the first nine months of the year, an increase from $200 million Hong Kong dollars ($25.61 million) it lost during the same period in 2022.
Medical Tech Firm Semler Scientific Invests in Bitcoin, Acquires 581 BTC
On Tuesday, the publicly traded medical technology firm Semler Scientific announced its decision to allocate bitcoin to its treasury. The company disclosed that it had acquired 581 bitcoins for a total of $40 million. Semler Scientific Embraces Bitcoin Joining the trend initiated by Microstrategy in 2020, another company has reportedly begun holding bitcoin on its […]Big Altcoin Rallies Are in Sight, According to Trader Who Nailed Recent Bitcoin Correction – Here’s When
A crypto strategist who accurately called the pre-halving Bitcoin (BTC) correction thinks altcoins are close to taking center stage. Pseudonymous analyst Rekt Capital tells his 473,400 followers on the social media platform X that he’s keeping an eye on the OTHERS chart, which traders use to track the altcoin market as it measures the total […]
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Ethereum funds attract $35 million in inflows following ETF approvals
Crypto investment inflows in the US reach a new peak, with Ethereum ETFs contributing to a record-setting week.
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Record-Breaking Inflows: Digital Assets Surge as Investment Products Hit New Highs
Digital asset investment products have experienced unprecedented inflows, totaling $1.05 billion this past week alone, pushing the year-to-date figures to a record $14.9 billion. This surge, highlighted in a recent Coinshares flows report, marks a continuous three-week rise, signaling strong investor confidence and a landmark year for digital assets. Bitcoin Leads Digital Asset Inflows Coinshares‘ […]Aave Network Set to Launch Following Aave V4 Protocol
In a recent social media post, Stani Kulechov, the founder of Aave, announced that the Aave Network is expected to launch following the completion of the Aave V4 protocol. This development is eagerly anticipated by the defi community, as the Aave Network is projected to become one of the largest Layer 2 networks on Ethereum, […]
Dune unveils platform for simplifying blockchain data integration
Dune announces Dune Catalyst, a new enterprise solution for easy EVM blockchain data integration and management, enhancing community growth and insights.
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Betting platform Rivalry launches RVLRY token in Web3 expansion
Rivalry Token to revolutionize Gen Z betting with blockchain technology, launching in H2 2024 for enhanced user engagement.
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Tensions in DeFi industry exposed by LayerZero’s anti-Sybil strategy
LayerZero has identified 800,000 potential Sybil addresses so far, but the process has antagonized some community members.
LayerZero, a cross-chain interoperability protocol, is gearing up for its first token airdrop, but its strategy against token farmers is causing division.
The main concern surrounds LayzerZero’s “anti-Sybil strategy.”
Sybil activity occurs when a group or individual creates multiple wallets to interact with a protocol in the hopes of qualifying for its airdrop multiple times.
Bitcoin has ‘3 bullish reasons’ to head higher after $68K dip — analysis
Bitcoin price strength is not in danger after the Mt. Gox sell-off, says QCP Capital, as multiple factors align to boost crypto markets.
Bitcoin (BTC) dropping to multi-day lows is nothing against the broader BTC price uptrend, new analysis says.
In its latest market commentary sent to Telegram channel subscribers on May 28, trading firm QCP Capital dismissed recent “bouts of supply anxiety.”
Bitcoin bulls have little to worry about when it comes to the BTC price uptrend, QCP Capital argues.
Mt Gox Moves 141,686 BTC to Three Addresses, Consolidates 142,846 BCH
Based on onchain metrics, the Mt Gox funds, once consolidated into a single address holding over $9.6 billion in bitcoin, have now been distributed to three separate addresses as of Tuesday morning. Mt Gox Funds Redistribution An examination of the onchain transfers from the Mt Gox bitcoin cache reveals that the funds have been allocated […]
Bitcoin and Ether ETF markets poised to reach $450B — Bernstein
Bernstein report projects Bitcoin and Ether ETF markets to reach $450B, driven by crypto price forecasts and ether’s commodity classification, with positive implications for other tokens like Solana (SOL).
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P2P.org unveils first Restaking API for ETH, empowers intermediaries with automated staking solutions
P2P.org unveils a first-of-its-kind Restaking API, streamlining Ethereum staking for intermediaries and enhancing user rewards.
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