#FTX 's fall was the biggest shock in crypto history. Key figures like Sam Bankman-Fried (SBF), Caroline Ellison, and Ryan Salame are now serving jail sentences due to their roles in the fraud. On the other hand, Nishad Singh and Gary Wang escaped jail due to cooperation with the government.
🔁 SBF has filed an appeal against his decision, but the damage has already been done.
💸 Almost 16 billion dollars are to be returned to users, which can provide some level of justice—but marks have been left.
This incident brings some important points to light:
There is a need for stricter regulations
Crypto and exchanges are still at a very high risk
Some users may soon receive money, but restoring trust in the system is difficult. The FTX incident is a warning and a new lesson.
Will crypto rise stronger from this? Or will the same story be repeated?
