Howdy Folks,So...the results are in and SBF may well be crying!

Want to know more? Read on!

• 👨‍⚖️ Bankman-Fried's Downfall

• ⚖️ SEC vs. Kwon

• 📈 Bitcoin's Big Break

🔨 SBF Convicted on Fraud Charges

The cryptocurrency realm witnessed a spectacle as the ex-FTX CEO, Sam Bankman-Fried, donned the cloak of guilt on seven felony charges.

The month-long courtroom drama 🎭, condensed into a punchy 15-day trial, saw SBF's empire crumble 🍪 like a cookie in hot tea.Charged with a buffet 🍽️ of fraudulent flavors ranging from wire fraud to money laundering, he now potentially faces a main course of 115 years behind bars.I must remain unbiased, I must remain unbiased, I must remain unbias...🤭

The jury, perhaps not needing a blockchain to reach consensus, took a mere four and a half hours to deliver a unanimous guilty verdict.Bankman-Fried, maintaining his innocence as staunchly as a cat 🐱 claims indifference, faces sentencing in the spring 🌼 of 2024, where Judge Lewis Kaplan will decide his fate.

Adding a sprinkle 🧂 of irony, SBF’s additional charges for campaign finance fraud suggest his political donations were as tainted as a rigged slot machine.Yeah...we figured!U.S. Attorney General Merrick Garland's comments served as a sobering reminder that not even crypto kings 👑 can play hide and seek with the law.The Justice Department's magnifying glass 🔍 seems to focus quite well, even on the shiny complexities of cryptocurrency.

📉 SEC Seeks Swift Justice Against Terraform

In contrast to the previous story, the SEC isn't in the mood for courtroom theatrics. They're asking for a direct cut to the chase with a summary judgment against Do Kwon and his brainchild, Terraform Labs.

Like a player 🎮 asking for a fast-forward in a tedious game, the SEC argues that the facts are as clear as day 🌞 and that there's no material fact to debate.They believe the case satisfies the Howey test — the regulatory equivalent of a litmus test for securities — and that Kwon’s defense is as thin as wet tissue paper.

Following a tit-for-tat with Kwon’s team, who apparently tried to beat the SEC at their own game by requesting a similar judgment, the SEC's rebuttal was as sharp as a sushi chef's knife 🔪.About time they did something decisive!They claim Kwon's Terraform sold securities disguised as stablecoins and engaged in financial alchemy more misleading than a magician's 🎩 promise.

While Kwon plays guest in Montenegro's accommodations, courtesy of a document forgery sentence, the SEC’s narrative recounts Terra's collapse as a tale of loss, likening it to a game of Jenga 🏗️ where one wrong move brought down billions.Yes....thinking of that still smarts!

On a side note, as if watching the drama from the sidelines, Terraform's co-founder Daniel Shin has washed his hands 🧼 cleaner than a surgeon, distancing himself from the disaster and pinning the blame squarely on Kwon's management — or lack thereof.

🚀 Saylor Forecasts Bitcoin Boom

In the never-dull crypto casino 🎰, Bitcoin's fortunes could turn on the spin of the SEC's regulatory wheel, says Michael Saylor, the head honcho of MicroStrategy and a steadfast Bitcoin crusader.

Wagering on a wild rally, Saylor prophesies a 10x jackpot 🎉 for Bitcoin, citing institutional high rollers stepping into the game.Never one to shy away from bold statements, are you Michael?

Laying out his hand, Saylor points to the Bitcoin halving event, akin to a fiscal fountain of youth, slashing the supply of new coins like a diet cuts calories.He's betting that when the SEC greenlights 🚦 a spot Bitcoin ETF, demand will soar like a rocket 🚀 — with less Bitcoin to go around and more mainstream moneymakers clamoring for a piece of the digital gold.

Saylor's vision sees Wall Street banks cradling Bitcoin like a newborn baby. With such guardianship, he foresees the industry catapulting to new heights.

Echoing Saylor's bullish sentiment, financial seers like Bernstein Research and JPMorgan Chase are virtually nodding in agreement, with predictions of SEC approval coming soon.Meanwhile, Galaxy Digital's grand poobah, Michael Novogratz, not only joined the chorus but added his own crescendo, speculating a hefty 74% price pump post-ETF approval.

If these crypto oracles have read the tea leaves right, Bitcoin's next chapter could be written in bold and bullish strokes, with institutional backing turning the cryptocurrency into a financial phoenix, reborn and ready to soar.But, remember folks...this is not financial advice!

DailyCoin Daily Meme

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