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- 1 The FTX co-founder has been prescribed drugs for ADHD and is on a vegetarian diet: Report.
- 2 On March 28, 2024, a team of 12 members will deliver a verdict about the jail tenure.
- 3 FTT is fluctuating between 5% and 10% in a single day.
Dozens of reports claim that jailed ex-chief executive officer of FTX, Sam Bankman Fried, has adopted mackerel as a means of currency, making it the new commodity akin to cigarettes in prison.
A person aware of the matter informed media personnel that SBF provides crypto tips to jail guards. Some others claim that the FTX founder is receiving his prescribed medicine drugs for ADHD and is on a vegetarian diet.
Earlier, he raised concerns over not getting medication and vegetarian food, quoting that jails must meet required standard options. In August 2023, SBF’s attorney disclosed in front of the court that his client is surviving in prison on a diet of “bread and water.”
Sam Bankmand Fried was found guilty in all seven counts of fraud, and the verdict panel comprised 12 members. The verdict over sentencing will occur on March 28, 2024.
However, the legal team of SBF is challenging the court’s verdict. As per analysts, before establishing FTX, Sam was a renowned trader in the traditional finance and crypto sector.
The motive behind providing the guards at the prison free tips regarding crypto is to win favors while in prison.
Why FTT Was Spiking in the Past Week
As per the news story of TheCoinRepublic, the token of The FTX token flourished over 285% so far this month. It is believed widely that the lawsuit against Binance is the reason behind the rise in price.
When writing, the FTT price was approaching the long-awaited hurdle of $5.00; there are possibilities that if its prices succeed in breaking $5, further rally will be triggered.
At the time of writing, FTT was trading at $4.05, with a decline of 47.48% in its trading volume. However, it dropped by 5.39% on November 24.
At the time of writing the market capitalization of the entire crypto market was $1.43 Trillion and the leader of all cryptocurrencies is trading at $37,739 with a weekly surge of 3.52%.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
