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Sam Bankman-Fried, the 31-year-old founder of the bankrupt FTX cryptocurrency exchange, pleaded not guilty to a fresh indictment involving fraud and conspiracy. His lawyer voiced concerns about Bankman-Fried’s treatment in jail during his first appearance in Manhattan federal court after being detained by a U.S. judge earlier this month. Allegedly inhuman conditions According to CoinDesk, Bankman-Fried pleaded not guilty to U.S. Magistrate Judge Sarah Netburn. He is currently being held at Brooklyn’s Metropolitan Detention Center, a facility his public defenders often speak up about having allegedly “inhumane” conditions. Among other complaints, Bankman-Fried’s attorney, Mark Cohen, claimed that his client had been denied access to his medication, Adderall, essential for managing his attention deficit hyperactivity disorder. Cohen further added that jail authorities have declined to provide the requested vegan diet for Bankman-Fried, instead giving ...

The cryptocurrency market may have overreacted to Solana’s FTX links and its tainted boss, Sam Bankman-Fried. The price of Solana (SOL) fell nearly 95% in 2022, partly due to its association with tainted crypto entrepreneur Sam Bankman-Fried and his collapsed ventures, FTX and Alameda Research. But so far in 2023, things have improved for SOL’s price. Solana’s price doubles in Q1/2023 Solana’s price has risen 104% to around $20.60 per SOL in the first quarter of 2023, the highest gains compared to any cryptocurrency in the top 25, including Bitcoin (BTC) and Ether (ETH). Solana beats top-ranking assets’ Q1/2023 returns. Source: Messari In fact, January was Solana’s best month since August 2021 in terms of price performance. SOL’s price rallied by about 140% in it without any major fundamentals that could have driven the rates up. Nonetheless, the SOL/USD pair became excessively oversold in December 2022, which may have influenced traders to buy the dip.  The rally also coincided with...

Banning retail crypto staking in the US would result in even more businesses moving offshore, argues the Coinbase co-founder. The CEO and co-founder of cryptocurrency exchange Coinbase, Brian Armstrong, believes that banning retail crypto staking in the United States would be a ‘terrible’ move by the country's regulators.  Armstrong made the comments in a Feb. 9 Twitter thread which has already been viewed over 2.2 million times, after noting they've heard “rumors” that the U.S. Securities and Exchange Commission “would like to get rid of crypto staking” for retail customers. “I hope that's not the case as I believe it would be a terrible path for the U.S. if that was allowed to happen.” Armstrong did not share where the rumors originated from but continued to note that staking was “a really important innovation in crypto.” “Staking brings many positive improvements to the space, including scalability, increased security, and reduced carbon footprints,” he added. 2/ Stakin...