Bitcoin News and Finance
DOJ’s Decision on SBF Case Outrages Crypto Industry — Coinbase Calls It ‘Miscarriage of Justice’ Skip to main content

DOJ’s Decision on SBF Case Outrages Crypto Industry — Coinbase Calls It ‘Miscarriage of Justice’

DOJ’s Decision on SBF Case Outrages Crypto Industry — Coinbase Calls It 'Miscarriage of Justice'

The decision by the U.S. Department of Justice (DOJ) not to pursue a second trial against disgraced FTX founder Sam Bankman-Fried (SBF) has outraged the crypto industry. Crypto exchange Coinbase calls the decision a “miscarriage of justice.” One lawyer opined, “Ask yourself why is this case being dropped in an election year,” noting that SBF gave the Biden administration $10 million and had personal meetings with U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler and SEC staff.

DOJ’s Decision on SBF Trial Outrages Crypto Industry

The U.S. Department of Justice (DOJ) has decided not to pursue a second trial against former FTX CEO Sam Bankman-Fried (SBF). The second trial, which had been slated to start in March, addresses an additional set of criminal counts against Bankman-Fried, including campaign finance charges.

Sharing his thoughts in a series of posts on social media platform X Friday regarding “the DOJ’s decision not to pursue campaign finance charges against SBF,” Coinbase’s chief legal officer, Paul Grewal, stressed: “I think it’s a mistake.” He emphasized:

I think this is a miscarriage of justice. The public interest in a public airing of charges almost always matters. Campaign finance charges are at the very top of this list. What politicians and others knew what and when are critical questions that deserve answers.

“Dropping this on a Friday night before a holiday only fuels public cynics about the politics of all this. Damn shame,” the Coinbase official noted.

Many people took to social media to slam the DOJ’s decision, calling it “outrageous,” “sickening,” and “disgusting.” Some accused the DOJ of absolute corruption. One X user wrote:

This is insane corruption.

“FTX snowplowed millions of dollars into Democrat campaign accounts. DOJ separated campaign finance charges from his fraud trial. Now after being convicted for fraud, they’re dropping the 2nd trial for campaign finance crimes. Would’ve implicated too many Dems and RINOs. I know our gov’t is corrupt but sometimes things like this surprise even me,” he added.

Lawyer John Deaton opined: “Ask yourself why is this case being dropped in an election year? During the fraud trial, Caroline Ellison testified that SBF gave the Biden administration $10 million and the reason he told her was to ‘buy access.’ He got two personal meetings with [U.S. Securities and Exchange Commission (SEC) Chairman] Gary Gensler and several others with SEC staff … What a joke the DOJ has become.”

What do you think about the DOJ’s decision not to pursue a second trial against Sam Bankman-Fried? Let us know in the comments section below.

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory