Summary
TLDR: Legal drama in the crypto industry as a judge allows SEC lawsuit against Coinbase to proceed, while FTX founder Sam Bankman-Fried is sentenced to 25 years in prison for fraud. Edward Snowden predicts SEC will drop enforcement campaign, and reactions on Crypto Twitter are mixed regarding the sentencing.
Key Points
1. Legal intrigue dominated Crypto Twitter this week, with the SEC lawsuit against Coinbase and the sentencing of FTX founder Sam Bankman-Fried being key highlights.
2. The judge in the Coinbase case ruled in favor of the SEC, leading to speculation about the future of crypto regulation and enforcement in the US.
3. Bankman-Fried’s 25-year prison sentence sparked mixed reactions on Crypto Twitter, with some feeling it was too lenient and others seeing it as a fitting punishment.