Two figures once considered to be Titans in the crypto industry are going to prison in the United States for drastically different amounts of time., many in and out of the crypto space have questioned why the two industry leaders have received such different treatment in the U.S. legal system.
The former FTX CEO faced seven felony charges related to defrauding investors and misuse of customer funds. CZ faced one charge related to failure to maintain an effective Anti-Money Laundering program at Binance. “CZ was charged with a crime that is more akin to a regulatory violation: the failure to have an adequate system of Anti-Money Laundering controls, while SBF was charged with wire fraud in connection with the secret plundering of billions of dollars in crypto custody with FTX to prop up Alameda,” Mark Bini, a former Assistant U.S. Attorney in the Eastern District of New York, told Cointelegraph. “While both are serious, SBF’s crime was far more serious.
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