The release of Sam Bankman-Fried (SBF) on a secured bail bond surprised many in the crypto community. A section of crypto analysts and traders have been expressing anguish on the whole scenario.
This is in the context of the huge loss incurred due to the FTX collapse. The FTX exchange went down from a valuation of $32 billion to just $1 billion.
The SBF bail is being touted as one of the largest in the history of white-collar crimes. This comes after SBF recently revealed that he holds no more than $100,000 in cash. He made the comments following the FTX bankruptcy announcement. While announcing the FTX bankruptcy, the company also announced SBF’s resignation as the company CEO. Following this, John J. Ray III took charge as the new FTX CEO to see the company through the bankruptcy process
Meanwhile, the FTX token (FTT) price continues to trade at extremely low levels compared to the November first wee levels. As of writing, FTT’s price stands at $1.00, up 18.06% in the last 24 hours.
