Criticism Mounts as Coinbase's Chief Legal Officer, RFK Jr., and Others Denounce Decision to Dismiss Second SBF Trial

United States Prosecutors Drop Remaining Charges Against Sam Bankman-Fried

United States prosecutors have made the decision not to pursue the remaining charges against Sam Bankman-Fried, including foreign bribery and bank fraud. The charge of unlawful political donations has also been dropped. The prosecutors cited that evidence related to these charges had already been presented during Bankman-Fried’s original trial, where he was found guilty on seven counts of fraud and conspiracy.

Focus on Unlawful Political Donations Charge

The dropped charge of unlawful political donations has garnered significant attention from the crypto community. Bankman-Fried’s extensive donations to both Democratic and Republican politicians have raised concerns. Prosecutors alleged that customer funds were used for $100 million in political donations.

Criticism from Presidential Candidate Robert F. Kennedy Jr. and Coinbase’s Chief Legal Officer

Presidential candidate Robert F. Kennedy Jr., running as an Independent in the 2024 race, expressed his concern over the normalization of corruption in response to the dropped charge. Coinbase’s Chief Legal Officer, Paul Grewal, criticized the decision, calling it a “miscarriage of justice” and emphasizing the importance of a public airing of charges.

Sentencing Scheduled for March 2024

Sam Bankman-Fried’s sentencing is currently set for March 28, 2024.

Hot Take: Controversial Decision Sparks Criticism and Concern

The decision by United States prosecutors to drop remaining charges against Sam Bankman-Fried, including foreign bribery and bank fraud, has generated controversy and criticism. The dropped charge of unlawful political donations has particularly caught the attention of the crypto community, given Bankman-Fried’s significant contributions to politicians from both major parties. The move has raised questions about the normalization of corruption and the need for transparency in campaign finance. While some have expressed concern over the dropped charges, others believe it is a timely resolution to the case. Bankman-Fried’s sentencing is scheduled for March 2024.