Bloomberg reporters offered their insights on the court's rulings, raising the question: What lies ahead for the cryptocurrency world? Experts interviewed by the publication opine that the court's decision signifies the conclusion of an era characterized by risky and illicit activities and heralds a future marked by enhanced regulation and increased acceptance of digital assets and blockchain technology. Brian Mosoff, the CEO of Ether Capital Corp., stated that the verdict symbolizes the end of an era marred by "unregulated exchanges, fraudulent assets, and deception."
In the beginning of the story, Sam's empire was synonymous with success, fame, and wealth, but as the story unfolds, it will be associated with deceit, fraud, and the pursuit of justice.
Brian Mosoff, CEO of Ether Capital Corp.
According to Angelina Kwan, the CEO of regulatory consultancy Stratford Finance Ltd., this ruling reinforces the notion that illicit activities do not yield profits in the digital asset sector. It also underscores the existence of enforcement mechanisms aimed at providing reassurance to investors and traders that the industry is evolving and becoming more mature.
"In the future, we will reflect on this point in time and recognize it as the initial stride toward emerging from the crypto winter, with the downfall of FTX playing a part in this transition."
- Angelina Kwan, CEO of Stratford Finance Ltd.
Matthew Russell Lee, the Inner City Press journalist who was present at the hearing, anticipated that Sam Bankman-Fried's attorney, Mark Cohen, would promptly contend, following the conviction, for his client's release on the grounds that he could no longer tamper with witnesses.