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Ryan Salame sentenced to 90 months in prison. Former FTX executive’s sentencing comes two months after former CEO Sam Bankman-Fried was sentenced to 25 years in prison. Former FTX executive Ryan Salame has been sentence d to 90 months in prison , the United States Attorney for the Southern District of New York Damian Williams has announced. Salame previously pleeded guilty Salame’s sentencing comes two months after former FTX CEO Sam Bankman-Fried received a 25-year sentence. Previously, Salame had pleaded guilty to DOJ charges, including conspiracy to make unlawful political donations, plans to deceive the Federal Election Commission and conspiracy to run an unlicensed money transfer business.  The prosecution said he worked on these alongside Bankman-Fried and other top FTX executive Nishad Singh. As well as the 7.5-year sentence, the court has imposed a $6 million forfeiture and over $5 million in restitution order against the ex-FTX ...

The UK government expects the country’s stablecoin and staking legislation within six months. Economic Secretary to His Majesty’s Treasury (HMT), Bim Afolami, said this during an event hosted by Coinbase in London. The UK government expects new regulations on stablecoins and staking services to roll out in the country within the next six months, Economic Secretary to His Majesty’s Treasury (HMT), Bim Afolami, has noted. According to a Bloomberg report , the government is focused on having the legislation in place this year as part of the overall push for regulatory clarity for the crypto sector. “We’re very clear that we want to get these things done as soon as possible. And I think over the next six months, those things are doable ,” Afolami said during an event hosted by Coinbase in London. Afolami’s comments come as observers point to the government’s plans to have the crypto regulation regime in place befor...

Nathaniel Chastain will reportedly have until Nov. 2 to surrender himself following his conviction for wire fraud and money laundering related to insider trading on OpenSea. A federal judge has sentenced former nonfungible token (NFT) marketplace OpenSea product manager Nathaniel Chastain to 3 months in prison for wire fraud and money laundering related to insider trading on the platform. In an Aug. 22 announcement from the United States Department of Justice, U.S. Attorney Damian Williams said Chastain had been sentenced to 3 months in prison, 3 months of home confinement, and 3 years of supervised release in addition to being ordered to pay a $50,000 fine and forfeit ill-gotten Ether (ETH) from the NFT trades. Inner City Press reported he would be required to surrender himself on Nov. 2, with Chastain's lawyers planning to appeal the decision and request bail. “Respect for the law and general deterrence militate for punishment,” reportedly said the judge at sentencing. “But [Cha...