In the year Which crypto numbers could go to jail in 2024?
Before 2022, some of the titans of industry face criminal charges in the United States. Although no one is sure what the courts will decide about the future of these crypto leaders, many are looking at the possibility of spending years in federal prison.
Sam Bankman-Fried
After the judge confirmed that the former CEO of the crypto exchange FTX was trying to intimidate witnesses in the criminal trial, the ex-girlfriend and CEO of Alameda Research, Caroline Ellison, is in prison. SBF was found guilty of seven criminal charges after a trial in November and is expected to be sentenced in March 2024.
It's unclear what sentence a judge will impose on Bankman-Fried in March, or whether prosecutors plan to seek a second trial on five more felony charges depending on the outcome. However, many experts suggest that the former CEO of FTX may face some prison time for his role in the fraudulent business between the crypto exchange and Alameda.
Changpeng Zhao
Zhao, the former CEO of crypto exchange Binance, pleaded guilty in the United States as part of a $4.3 billion settlement with federal authorities and the company. In the year He is scheduled to be sentenced in February 2024 and faces up to 18 months in prison for violating the Bank Secrecy Act.
Today I step down as the CEO of Binance. It wasn't easy to let go emotionally. But I know it's the right thing to do. I made a mistake, and I have to take responsibility. This is great for the community, Binance and myself.
Binance is no longer a baby. is it…
— CZ BNB (@cz_binance) November 21, 2023
At the time of publication, CZ was mostly free to travel in the United States on a $175 million bond. Lawyers for the former Binance CEO petitioned the court to allow him to travel to Dubai – where his family is based – before the sentencing, but those requests were rejected.
Alex Mashinsky
US authorities arrested the former CEO of Celsius Network last July for allegedly misleading investors and defrauding users out of billions of dollars. A court ordered Mashinsky's financial and travel restrictions, but he remains free on $40 million bail at the time of publication.
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Mashinsky's trial, scheduled to begin in September 2024, will mark one of the few public appearances by the former CEO since Celsius filed for bankruptcy in July 2022. Ronny Cohen-Paven, Celsius' former chief revenue officer, has pleaded guilty to four felony charges. September and may testify at Mashinsky's trial.
Do your homework
In the year The founder of Terraform Labs, whose whereabouts are unknown following the 2022 platform collapse, has been in a Montenegrin prison since March. His arrest for using forged travel documents is not directly related to Terra's fraud or other charges, but Kwon could face prison terms in both countries in 2024 pending extradition requests from the United States and his native South Korea.
Depending on the legal process in Montenegro, it is unclear whether Quon will be extradited at the time of publication. Terra's co-founder could face years in prison for fraud and similar charges in South Korea if the country accepts the US request.
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