American prosecutors announced that SBF will not face a second trial: Report

According to the United States prosecutors, it is impossible to see the second trial of Sam Bankman-Fried, the former CEO of the former cryptocurrency exchange FTX.

According to a Reuters report published on December 29, many stakeholders hope the trial will be resolved as soon as possible.

Citing a court filing, prosecutors said the public interest is “particularly serious here” as victims are anxiously awaiting details of compensation for their FTX accounts after the November 2022 collapse.

For me, the second attempt was less about how much worse things could have been for SBF and more about finding more adapters that deserved more exposure.

— @bft.wtf by Bluesky (@BennettTomlin) December 30, 2023

In addition, he stated that since most of the evidence was revealed in the first trial, there could not be enough new evidence.

In the year On November 3, Bankman-Fried was found guilty of seven counts of fraud after four hours of deliberations at his trial.

Bankman-Fried was found guilty of two felony counts.

Related: What's next for ‘crypto king' Sam Bankman-Fried?

Meanwhile, Banman-Fried's request to extend the sentencing hearing by four to six weeks was denied.

Judge Lewis Kaplan did not allow any changes to the schedule. He pointed out that the defendants did not protest when the sentence was handed down. It was also explained that Banman-Fried received one more time to make penalty submissions.

Bankman-Fried's sentencing date is scheduled for March 28, 2024.

Magazine: SEC Delays Ether ETFs, Binance Settlement Approved and Another Court Loss for SBF: Hodler's Digest, December 17-23