Sam Bankman-Fried ignites hype as Prosecutors dismiss all charges!

The decision by prosecutors in the United States to drop remaining charges against crypto mogul Sam Bankman-Fried has sparked criticism and disappointment in the industry. Bankman-Fried was previously found guilty of fraud and conspiracy charges related to his leadership of FTX and Almeda Research. The dropped charges included allegations of foreign bribery and bank fraud. Critics accused the authorities of attempting to cover up a major political and crypto scandal. Notable figures such as Robert F. Kennedy Jr. and Coinbase’s Chief Legal Officer voiced their disagreement with the decision. Bankman-Fried made headlines in 2021 for his large political donations to both Democratic and Republican politicians. The dropped charges are the latest twist in a saga that also involves allegations of operating as an unlicensed money-transmitting business and securities and commodities fraud. Prosecutors stated that the charges of unlawful donations were already covered in the evidence presented during Bankman-Fried’s trial in October. They explained that the majority of the evidence they intended to introduce in a second trial had already been presented in the first trial and could be considered during Bankman-Fried’s sentencing in March 2024.