FTX kingpin SBF has returned to public scrutiny, and this time he is reportedly offering tips from jail to security guards on how to buy Solana. While it has sparked hilarious reactions, some believe that Solana is gearing up for a surge in March, especially since SBF sentencing is less than a month away. The bankrupt crypto platform had close ties with the digital asset as it held substantial amounts of SOL. However, despite the crash, SOL bounced back, maintained its popularity as an Ethereum competitor, and continues to grow exponentially.
Meanwhile, Bankman-Fried 31 has recently appointed Marc Mukasey, who previously represented former President Trump, to oversee his sentencing. Mukasey is renowned for his assertive courtroom presentations. It will be interesting to see what kind of arguments he brings to the court in the high-profile trial.
On January 27, SBF’s legal representatives filed a legal memo in the U.S. District Court in Manhattan, seeking a reduction in the prison sentence from five and a quarter to six and a half years. In the court memo, the lawyers stated that their client is “deeply, deeply sorry” for “the pain he caused over the last two years.” “His sole focus after the collapse of FTX was making customers whole.”
SBF’s Crucial Date
According to law experts, the filing comes at a crucial time before Mr. Bankman-Fried’s sentencing on March 28, whose alleged crimes carry a maximum sentence of 110 years. The final decision rests with federal judge Lewis A. Kaplan, who is overseeing the case of the fallen crypto mogul. Coinbase’s Chief Legal Officer believes that Bankman-Fried could face decades behind bars even if Judge Kaplan decides not to impose the maximum sentence.
Miriam Baer, vice dean at Brooklyn Law School, stated that the judge “could still give a very serious sentence given how young Mr. Bankman-Fried is—say, a 30- or 35-year sentence.” Successfully appealing and overturning criminal convictions as serious as this, is a rare occurrence. Since last summer, SBF has been placed at the Metropolitan Detention Center in Brooklyn, where he has spent much of his time working on the case, a person with knowledge of the matter said.