The law of the market never changes is that things will turn around when they reach their extremes.
2024.05.29:
According to Bloomberg, Ryan Salame, the former CEO of FTX's Bahamas subsidiary, was sentenced to seven and a half years in prison. This is the first person who was sentenced by SBF's close ally after the collapse of FTX. Ryan Salame appeared in a Manhattan court on Tuesday after reaching a plea agreement with federal prosecutors last September. The sentence exceeded the prosecutors' request. The government said that Salame admitted to violating campaign finance laws and operating an unlicensed money transmission business and should be sentenced to five to seven years in prison, while the defense advocated a sentence of 18 months or less. The verdict may show how tough Judge Lewis A. Kaplan is on FTX executives.
According to Cointelegraph, US federal judge Robert Shelby has ordered the US Securities and Exchange Commission (SEC) to pay about $1.8 million in attorney and receiver fees related to the regulator's civil case against Debt Box. The case was dismissed on May 28, with the judge noting that the SEC showed "malicious behavior" in its temporary injunction to freeze Debt Box's assets. The ruling is a major victory for Debt Box because it means the SEC cannot continue the current case.
Account status: Total capital 555,000 (including dividends), principal 150,000, yield 300%. Contract account total equity 495,000, total position 544,000, 40+ varieties, 170+ pending orders.
Risk warning: Leverage is not the devil, it is just a tool to improve capital utilization. Leverage itself has no risk, the real risk comes from human nature.
