SBF is Going to Jail for a Long Time

And that's great for digital assets

Sam Bankman-Fried is going to jail for a long, long, long time.

Not much of a surprise for those who’ve kept up with the downfall of FTX and the sordid exposure of one of the world’s largest crypto platforms as nothing more than a washing machine designed to defraud investors.

The government seemed to have an airtight case, and late last week, a jury agreed.

Not before SBF testified in his own defense, though. It didn’t go well, but you almost have to give the guy high marks for having the arrogance to think it somehow would.

As the guilty verdict was read, his parents cried in court while he remained stone-faced. The implication was clear to everyone.

He won’t get out of jail soon.

And federal prison is no cakewalk, even for those lucky enough land in a “camp fed” style minimum security spot.

No final determination on which facility will house our crypto fraudster. That, among other things, is still being worked out by the courts.

But all this is good for Bitcoin, crypto, and the digital asset market. Fraudsters, hucksters, cheats and liars have long been associated with these speculative assets, and anything that roots them out our puts them on notice is positive.

The less of these types, the better.

Digital assets won’t truly burst into the mainstream until they are gone.

The Crypto Connection is for entertainment purposes only and is not meant to be financial advice. Please do your own research before investing in any asset class. Sara Celi is not a financial advisor and holds several cryptocurrencies. To purchase her books on Amazon, please click here.