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US won’t try Sam Bankman-Fried second time on additional charges

US won’t try Sam Bankman-Fried second time on additional charges
Sam Bankman-Fried will not be tried a second time, while Changpeng Zhao must remain in the US. Credit: Rita Fortunato/DL News

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The US will not try ex-FTX chief Sam Bankman-Fried a second time on additional charges, Changpeng Zhao is denied travel a second time, and Michael Saylor’s MicroStrategy buys more Bitcoin. Read on!

Bankman-Fried won’t face second trial

US prosecutors won’t put bankrupt exchange FTX founder Sam Bankman-Fried on trial a second time, Reuters reported. In his first trial, he was found guilty of seven charges and faces years in prison for stealing $8 billion from customers.

Bankman-Fried had faced six other charges, including campaign finance violations, conspiracy to commit bribery, and conspiracy to operate an unlicensed money transmitting business, the report said.

Prosecutors said there was “strong public interest” in resolving the case.

Changpeng Zhao denied travel again

For a second time, a federal judge ruled that ex-Binance CEO Changpeng Zhao cannot leave the US ahead of his sentencing in February on one felony count, for which he faces as many as 18 months in prison, Cointelegraph reported.

Judge Richard Jones again denied a motion from Zhao requesting permission to travel abroad. The reasons for Zhao’s second motion were sealed by the court.

Zhao was initially ordered to remain in the US on December 7, when the judge suggested he may be a flight risk if he were to travel to his home in Dubai. Zhao remains free on a $175 million bond, but must remain in the US.

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Ripple’s XRP nears accounts milestone

XRP, the native cryptocurrency of the Ripple network, is nearing a milestone of 5 million holders, according to data from XRP Ledger Services.

At time of publication there were 4,983,828 holders of XRP amid steady growth.

Ripple recently chose Ireland as its foothold to access the EU, DL News reported. With the Markets in Crypto-Asset regulation going live by the end of next year, industry actors can pick one member state from which it can passport its licence to the EU’s 450 million population.

Saylor’s MicroStrategy buys more Bitcoin

MicroStrategy continues to acquire Bitcoin, recently buying 14,620 BTC for about $615.7 million, founder Michael Saylor said in a post on X.

The company holds about 189,150 Bitcoin worth $8.11 billion amid a surge in value. BTC was holding at more than $42,000 at time of publication, having risen from about $16,000 early in 2023. Bitcoin’s fourth halving approaches, probably in April, and the first spot Bitcoin ETF may be approved by the US in early in 2024.

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