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Weekly Crypto Recap: CZ’s Release, Caroline Allison’s Sentence, and FTX Creditors’ Update
Hey hamsters, get ready to pull out the sunflower seeds for this week’s recap! This week, Mr. CZ was released from custody, Caroline Allison is heading to prison, and there’s bad news for FTX creditors. Let’s dig in!
CZ’s Release from Custody
After spending four months in custody, Changpeng Zhao (CZ) was released from a correctional facility in California. He remains the wealthiest person ever to serve a prison sentence in the US, with a net worth of $60 billion. Zhao pleaded guilty in November for failing to implement adequate money laundering controls in the world’s largest cryptocurrency exchange, Binance. The founder and former CEO is now set to be released from prison. CZ is already back on Twitter, with his first tweet being about the G app and his most recent one sharing his feelings and future plans.
Caroline Allison’s Prison Sentence
In other news, Caroline Allison, the former CEO of Alameda Research and close associate of FTX’s Sam Bankman-Fried, was sentenced to 2 years in prison. Fortunately, the judge was sympathetic, believing that Bankman-Fried exploited her, and thus she received a relatively lenient sentence.
Hamster Combat Airdrop and TGE
This week, we also went live on the exchanges. The Hamster Combat airdrop and TGE finally happened, and we’ll be sharing our official results and thoughts soon.
BlackRock’s Ethereum ETF Hits $1 Billion
Good news from ETFs this week: after just a week of US-based spot Ethereum ETFs, BlackRock’s fund exceeded $1 billion in total asset value for the first time, just two months after its launch. Wow!
FTX Creditors’ Reimbursements
However, FTX creditors will only get 10 to 25% of their cryptocurrency back. According to new documents, they will receive reimbursements based on the petition date, when crypto prices were slightly lower than they are today.
Conclusion
Well, that’s all for today. Thanks for watching! Subscribe and remember, hamsters: Power, one for all and all for one. See you tomorrow!
