Bankman-Fried Admits Crypto Ignorance at Trial, Damaging Industry Despite Bitcoin Resilience
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Sam Bankman-Fried admitted knowing nothing about crypto during his trial, proving he was an amateur who got rich with no expertise.
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The prosecution focused on puncturing Bankman-Fried's "boy genius" image, showing his look was used to dupe investors.
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Bankman-Fried was convicted of fraud using crypto, but Bitcoin's value has risen, showing crypto may endure despite bad actors.
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Bankman-Fried badly damaged crypto's reputation, but true believers see him as a distraction from blockchain's potential.
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His downfall ushered in more crypto regulation, with agencies suing major exchanges, but companies deny wrongdoing.