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Sam Bankman-Fried, the once-prominent determine within the crypto trade and founding father of the collapsed crypto alternate FTX, has made surprising claims whereas behind bars. From the confines of the Metropolitan Detention Center in Brooklyn, the place he has been held since final summer time, Bankman-Fried has reportedly been selling investments in Solana (SOL), in accordance with sources acquainted with the matter.

Sam Bankman-Fried Promotes Solana In Jail

Sam Bankman-Fried at the moment faces a looming sentencing date after being convicted of prices associated to the collapse of FTX. He has apparently been energetic in discussing crypto market developments with detention middle employees. Despite his authorized battles and the uncertainty surrounding his future, he has been sharing recommendations on investments in Solana to the guards. The transfer that highlights his continued engagement with the cryptocurrency sphere even from jail.

His advocacy for Solana comes amidst a backdrop of authorized maneuvering and efforts to mitigate his sentence. Bankman-Fried’s protection group, led by high-profile lawyer Marc Mukasey, is pushing for a lenient sentence, arguing that he’s deeply remorseful for the ache triggered and has been targeted on making amends for the collapse of FTX.

Despite dealing with a most sentence of 110 years, his legal professionals have filed a memo suggesting a jail time period between 5 and 1 / 4 to 6 and a half years. However, advocating a specific cryptocurrency or offering digital asset funding recommendation behind the bars may value him tremendously. Since he’s accused of main frauds within the crypto enviornment, making such claims could possibly be used in opposition to him.

In addition, the court filings point out that Solana served as a serious funding choice for the collapsed alternate FTX. Hence, Bankman-Fried’s transfer to advertise Solana to the jail guards may result in intense scrutiny on the matter. Moreover, FTX may also face a tighter crackdown in efforts to unearth the unknown sides.

Also Read: Sam Bankman Fried’s Defense Counsel Proposes 6 Year Sentence or Less

SBF Continues To Receive Immense Support From Family

The assist for Bankman-Fried extends past his authorized group, together with his dad and mom, Stanford University legislation professors Joe Bankman and Barbara Fried, actively concerned in his protection. Furthermore, they’ve rallied assist from pals, former colleagues, and sympathetic legislation professors, all contributing letters vouching for his character and advocating for a reconsideration of his actions.

Amid these efforts, Bankman-Fried’s endorsement of Solana whereas incarcerated provides a layer of intrigue to his story. Despite the challenges he faces, As he awaits his sentencing on March 28, 2024, observers are left to ponder the implications of his actions, each inside the crypto group and the broader authorized panorama. Moreover, the group is intently following the case to know if Bankman-Fried’s newest enchantment to scale back his jail sentence could be accepted.

Also Read: FTX Settles Lawsuit With EU Subsidiary, Drops $323 Mln Claim

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