U.S. Congressman Labels Crypto Industry 'Garden of Snakes'

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Congressman Brad Sherman delivered a scathing assessment of the cryptocurrency industry in the wake of FTX founder Sam Bankman-Fried's fraud conviction

The incendiary comments followed the recent conviction of cryptocurrency exchange FTX founder Sam Bankman-Fried, on fraud charges. Bankman-Fried, the founder of the now-defunct cryptocurrency exchange FTX, has been found guilty on all seven criminal fraud counts brought against him. The dramatic end to a monthlong trial that captivated the financial world saw Bankman-Fried convicted of wire fraud, securities fraud, commodities fraud, and conspiracy to commit money laundering.

Ripple Provides Major Update on XRP Case v. SEC, Binance Delists SHIB, LUNA, ADA Trading Pairs; Important Alert Issued as XRPL Sidechain Goes Live: Crypto News Digest by U.Today

 

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