Twitter explodes as Sam Bankman-Fried is sent to prison.

Sam Bankman-Fried, the disgraced founder and former CEO of FTX, has had his bail revoked, causing a stir in the world of crypto and NFT Twitter. The decision came from New York U.S. District Judge Lewis Kaplan, who expressed doubts about the effectiveness of a gag order in preventing Bankman-Fried from interacting with the media. This led to his remand in jail on charges of witness tampering.

The news of Bankman-Fried’s bail revocation sparked a series of reactions on Twitter from various personalities in the crypto industry. Martin Shkreli, the former pharmaceutical executive known as the “pharma bro,” drew parallels to his own legal troubles and predicted a lengthy prison term for Bankman-Fried. Shkreli tweeted, “Sucks for Sam. If the past is prologue, he will not see home for 15-30 years. Played a high-stakes game and wanted a shortcut. Doesn’t work that way!”

Caitlin Long, the CEO of Custodia Bank, questioned the ethics of trusting one’s money to someone who lacks moral clarity. She also pointed out the risk posed by the bail provided by Bankman-Fried’s parents’ connections. Other reactions on Twitter were less eloquent but equally critical. Adam Cochran, a partner at Cinneamhain Ventures, tweeted, “Take that, you witness tampering vegan-faking, money stealing, egotistical, delusional, coked-up, fraudulent, orgy-goblin, bean bag sleeping, self-entitled, stuck-up, pudgy little, twatwaffle. I hope you enjoy prison.”

The case against Bankman-Fried involves his sharing of documents related to Caroline Ellison, his former romantic partner and the former CEO of Alameda Research. Bankman-Fried also shared documents with a reporter from The New York Times, leading to questions about his intentions and claims of a First Amendment right. The situation escalated with allegations of witness tampering through encrypted communication applications.

Bankman-Fried’s legal troubles stem from his arrest in the Bahamas in December following the collapse of FTX cryptocurrency exchange. He has also faced allegations of fraud and money laundering by the U.S. Securities and Exchange Commission, which have tarnished his reputation. The collapse of FTX had significant repercussions in the NFT market.

The revocation of Bankman-Fried’s bail has sparked discussions about ethics, accountability, and the broader implications of alleged financial misconduct. The crypto community is closely following the developments in this ongoing saga.

Disclaimer: The opinions expressed in this article are not recommendations for investment or financial decisions. It is always advised to conduct thorough research before making any investment.