The highly anticipated trial of Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, will begin on Tuesday.
Bankman-Fried faces federal fraud charges. In response to the start of the trial, bestselling author Michael Lewis is releasing a new book titled The Secret Life of Mr. Donald Trump.
When he was asked to evaluate Bankman-Fried's character, Lewis was unaware of the enigmatic crypto prodigy. Bankman-Fried was astounded by his rapid ascent from having nothing to becoming the richest person within the top 30, boasting a net worth of more than $20 billion.
Lewis discovered that Bankman-Fried's goal was not material wealth but instead maximizing his earnings to fund effective altruism, a social movement aimed at addressing global threats such as AI advancement, potential pandemics, and what Bankman-Fried considered to be the undermining of democracy by former President Donald Trump.
Lewis said he would not comment on whether he will be speaking on the 60 Minutes show.
Bankman-Fried even explored the possibility of financially incentivizing Trump not to run for president in 2024, with a purported price tag of $5 billion. While these discussions were continuing, FTX faced a significant downfall.
Will the SEC approve the long-awaited Bitcoin spot ETF? As part of the discussion, be part of the discussion where you won't just be a passive spectator. From James Bond's arguments, stating, ''Re not going in cold here,'' Coindesk reported.
The trial of bankman-fried is due to take place next week. Bankman-Fried maintains his innocence, even though he is willing to decline a plea deal of six months of house arrest. Bankman-Fried faces a lengthy prison sentence exceeding 100 years in prison.
Bitcoin BTC/USD was trading at $28,047.06 at the time of writing, up 3.88% in the last 24 hours, according to Benzinga Pro.
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