Syed Rahman Outlines the Implications of FTX Founder Sam Bankman-Fried’s Conviction
With the founder of the collapsed crypto exchange FTX being found guilty of fraud, Syed Rahman was asked by The Law Society Gazette about the likely effect of the verdict.
Syed stated that the case was “a landmark case for the crypto industry – and not in a good way.’’
He explained: “There will be many who will now equate crypto with the activities of FTX and, as a result, will want little or nothing to do with the sector.’’
But he said: “This was a case about criminality – not the technology. This was a trial of one individual rather than the whole crypto sector. The focus should be on the person who committed the wrongdoing.’’
Syed also highlighted the speed with which the jury returned its guilty verdict.
He added: “This was a case that serves as a stark reminder that even those well-versed in the industry can succumb to hype and misinformation.’’
The full article can be read here.
