On CryptoWatch's round-up this week, the final sentencing against Sam Bankman-Fried was handed down. The disgraced former FTX CEO and co-founder received a 25-year prison sentence for his crimes and fraud charges.
It also sees the latest lawsuit against Robert Robb, also known as the proprietor of the crypto trading bot scam where he stole $1.5 million from investors.
(Photo: Tech Times)
Moreover, Worldcoin has also suffered a significant hit in Europe, as Portugal was the latest country to ban the biometrics-centered blockchain-based company.
Sam Bankman-Fried Sentenced to 25 Years in Prison
(Photo: ED JONES/AFP via Getty Images)
The decision from Judge Kaplan centers on the many crimes of SBF and his behavior during the hearings, citing that he went as far as to perjure himself in court.
Additionally, Kaplan considered that Bankman-Fried had no remorse for his crimes and how they affected many people, such as investors, customers, and his colleagues.
However, the judge waived the $11 billion, but he did not order restitution for this, claiming that it was because of the complexity of the case and its number of victims.
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Crypto Trading Bot Scam: FBI Reveals Crimes
The massive arrest by the US Federal Bureau of Investigation (FBI) against a criminal related to a crypto trading bot scam finally reveals more details about the case.
First off, it was tied to the suspected proprietor, Robert Robb, where the missing $1.5 million investments from his investors were transferred to his personal accounts and used for luxurious spending.
Robb initially promised that the crypto trading bot would center on a "Maximum Extractable Value" (MEV), which he marketed via Telegram and other social media platforms.
It promised massive returns on their investments and the money they used to buy the $RAT token, which would instantly make these people "millionaires."
Worldcoin Faces a Ban in Portugal
The renowned crypto biometrics venture Worldcoin is now facing a massive roadblock in Portugal, as the country's data protection authority placed a temporary ban against the company.
This means that effective immediately, Worldcoin will stop operating in the country, focusing on its collection of biometric data from Portugal's citizens.
Also known as the project of OpenAI's co-founder and current CEO, Sam Altman, the company requests users' biometrics in exchange for its proprietary crypto token.
According to TechCrunch, Worldcoin saw this ban primarily because of its controversial practice that scans the eyeballs of children to use for their service.
Moreover, it was said that Worldcoin's policy of storing biometric tokens for the long-term preservation of personal data could go against the EU's rules and regulations.
Related Article: UK Stops Promotional Crypto Memes to Avoid Misleading Ads From Self-Proclaimed 'Finfluencers'
