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The Parallel Lives of Bankman-Fried and Do Kwon

Key Takeaways
  • FTX's Sam Bankman-Fried faces a 115-year sentence, while Terraform Labs' Do Kwon may get over 100 years after his trial.
  • Both CEOs share fraud allegations, deny charges, and were aware of wrongdoing in their exchanges.
  • Kwon's trial outcome remains uncertain, with a requested date change indicating complexity. The trials will determine their legal fates.
15-Jan-2024 By: Sudeep Saxena
The Parallel Lives o

Like SBF, Do Kwon May Also Get 115 Years Imprisonment

FTX's former CEO, Sam Bankman-Fried, has been found guilty on all seven charges after his first trial, and the sentencing date has been set for March 28. It is reported that he could face nearly 115 years in prison. Coin Gabbar predicts that Do Kwon, the co-founder of Terraform Labs, may also face charges after his first trial, with a potential sentence exceeding 100 years.

Do Kwon, aware of the situation, is requesting a rescheduling of his trial date after the US District Court initially set it for January 29. Due to challenges related to extradition issues in Montenegro, he is expressing concerns about not being able to attend the trial on time. crypto loko casino

Similarities in the Cases of Bank Fried and Do Kwon

The cases of Do Kwon, the co-founder of Terraform Labs, and Sam Bankman-Fried, the co-founder of FTX, bear significant similarities. Such as:

  • Sam Bankman-Fried faces accusations of fraud and manipulation on the FTX crypto exchange, while Do Kwon is alleged to have engaged in similar activities at Terraform Labs.

  • Both founders are accused of misleading the court and law enforcement, with Bankman-Fried creating confusion and intimidating witnesses. Similarly, Do Kwon is accused of deceiving the court and police, exemplified by his travels from one country to another.

  • Bankman-Fried consistently denies the fraud allegations against him, and similarly, Kwon maintains his innocence in the fraud-related charges he faces.

  • Bankman-Fried faced a total of seven charges, including crypto fraud and wire fraud, resulting in a conviction. Likewise, Kwon is accused of crypto fraud, wire fraud, and holding fake passports.

  • Both founders enjoyed a carefree lifestyle before their arrests, and they were aware of fraudulent activities within their exchanges.

  • In both cases, there is an indication that the founders were well aware of the fraudulent activities happening within their respective exchanges.crypto loko casino

  • Bankman-Fried and Kwon are perceived to have intentionally allowed fraudulent activities within their exchanges.

Now, only time will tell whether Do Kwon will be convicted like SBF or if he can escape through some legal maneuvering in his first trial.

Also Read: Bitcoin Mining Increasing Environmental Stress and Concerns

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