This week has seen a whirlwind of events. Bitcoin’s price seems like the only stable thing in the industry right now, however hilarious that may be. That said, the cryptocurrency is still up throughout the past seven days, but not as much as last week. SBF was found guilty, Solana (SOL) is exploding, and whatnot. A lot happened this week, so let’s dive in.
Starting with BTC’s price, the cryptocurrency is trading at slightly below $35K at the time of this writing, marking an increase of 2.5% for the last seven days. That’s not bad, but it’s not nearly as good as the performance of the previous week.
It’s worth noting that Bitcoin tapped a new 18-month high at around $36K earlier this week, but the bulls were unable to sustain the price there, and it subsequently retraced to where it’s currently trading at.
More importantly, though. Sam Bankman-Fried, the man once touted to be crypto’s savior, was found guilty in the trial, and he’s facing a lot of years in jail time.
That’s right – SBF was found guilty of all seven charges of fraud. Each one of them carries a different sentence, but the combined maximum is up to 120 years in prison. The judge has yet to determine the exact sentence. and SBF’s attorney has already said that they will maintain his innocence by any means necessary.
Author: George Georgiev