Sam Bankman-Fried sentenced to 25 years in jail for FTX fraud

FTX co-founder Sam Bankman-Fried has been sentenced to 25 years in prison for his involvement in seven counts of conspiracy and fraud related to the collapse of the cryptocurrency exchange he established. The judge handed down a sentence of 240 months for four charges and 60 months for two others, along with ordering Bankman-Fried to forfeit more than $11 billion, including property, as recommended by prosecutors.

The judge's decision fell short of the 40 to 50 years requested by prosecutors, but exceeded the defense's plea for six and a half years, though it was notably less than the maximum sentence of 110 years.

During the trial, it was revealed that Bankman-Fried was aware of the risks FTX faced, misused customer funds, and knowingly engaged in wrongful activities. He justified his actions by weighing the risk of getting caught against potential gains. The judge dismissed claims that customers would be reimbursed, highlighting that FTX customers suffered losses of $8 billion and that Bankman-Fried attempted to manipulate witnesses and provided false testimony.

Despite FTX's success as a major cryptocurrency exchange, Bankman-Fried's trial exposed fraudulent practices, including falsifying data and granting preferential treatment to his trading fund. Bankman-Fried's own testimony was unconvincing, contributing to a swift conviction.

Bankman-Fried's behavior, including violating bail conditions and tampering with witnesses, led to his early incarceration. His lawyers argue against the recommended 100-year sentence, citing differences in circumstances compared to other cases like Bernie Madoff's, whose sentence was largely symbolic due to his advanced age.

Bankman-Fried's time in jail has been difficult, marked by health issues and extortion attempts. Despite claims of remorse from his legal team, his actions and performance during the trial suggest otherwise.

Safeguarding Internet Privacy: Supreme Court of Canada Upholds Protection of IP Addresses

In a recent ruling, the Supreme Court of Canada affirmed the significance of privacy rights concerning internet addresses. The court declared that police cannot simply obtain a suspect’s IP address without a court order, emphasizing the expectation of privacy that Canadian residents hold for such information. The court's decision stemmed from a case in 2017 involving Calgary police investigating fraudulent online activities at a liquor store. Initially, police demanded IP addresses from a credit card processor, which eventually led to obtaining subscriber information from Telus. This information was pivotal in making arrests and securing convictions in multiple offenses. Despite previous convictions, the accused contested the legality of obtaining IP addresses without proper authorization. The Supreme Court, in a 5-4 decision, asserted that IP addresses carry a reasonable expectation of privacy, necessitating judicial approval before access. The ruling emphasizes that obtaining jud

Signal Introduces Usernames for Encrypted Messaging: A Secure Way to Connect

Signal, the encrypted messaging service, is launching a new feature in the coming weeks: support for usernames. This beta feature allows users to establish unique usernames, enabling connections without divulging phone numbers. source: Signal Blog To create a username, navigate to your settings and select "Profile." Once you've chosen a unique username, generate a QR code or link to share with others. Recipients can connect by entering your username into the chat bar. Usernames can be changed at any time, though previous usernames may be claimed by others. Signal began testing usernames last fall. Unlike social media platforms, Signal usernames do not serve as logins or public handles. They offer a discreet means of communication without revealing personal phone numbers. While a phone number is required to register for Signal, sharing it is optional. Usernames remain private and do not appear on profiles or in chats unless shared explicitly. As Randall Sarafa, Signal'

Apple approves single letter name for twitter IOS app

In a series of noteworthy updates, Twitter, the popular social media platform, has officially rebranded itself to a single-letter name "X" on the App Store, marking a significant change in its visual identity. This move came after weeks of alterations to its social media handles, interface branding, and even web redirects, generating quite a buzz among its users and followers. Interestingly, Apple usually maintains a policy against allowing developers to name their apps with just a single character. However, it seems that Twitter's parent company, X Corp., led by the renowned entrepreneur Elon Musk, managed to secure an exception from Apple, granting them the unique opportunity to use "X" as the app's name. This exception was particularly significant, as the App Store Connect portal typically displays an error when developers attempt to use a single character as the app's name. In conjunction with the name change, Twitter also revamped its App Store tagl

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