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SBF Gets 40 Years In Jail (Insane SOLANA Price Prediction For 2024)

Originally aired on October 30, 2023

In this episode of The O Show, Wendy O discusses a range of topics in the crypto world. She starts by addressing the suspension of her Instagram account, emphasizing her frustrations and the impersonators who are trying to scam people. She then delves into the news of Sam Bankman-Fried potentially facing 40 years in jail for fraud charges related to FTX. Wendy also shares an insane price prediction for Solana in 2024, as well as discussing the IRS’s new regulations on crypto and the importance of leaving public comments. She highlights Hester Pierce’s dissent on the SEC’s approach to the library case and criticizes the SEC’s inconsistent actions regarding regulatory enforcement. Wendy also covers the acquisition of Securency by DTCC to deepen its blockchain push and the potential for spot Bitcoin ETFs. The episode concludes with discussions on the future role of AI, Elon Musk’s belief that banks could be replaced by X, Thailand’s K-Bank buying a majority stake in SANG crypto exchange, and a warning about the LastPass hack.

Sam Bankman-Fried potentially facing 40 years in jail for fraud charges related to FTX:

  • Multiple legal sources suggest a minimum sentence of 40 years.
  • Bankman-Fried’s defense claims ignorance and blames it on a bad trade.
  • The implications for FTX and the crypto industry as a whole are significant.

Insane price prediction for Solana in 2024:

  • VanEck predicts a base case of $335, a bull case of $3,200, and a bear case of $10 for Solana.
  • Solana’s recent performance has been impressive, outshining Ethereum in many ways.
  • The growing popularity and adoption of Solana could contribute to its future price increase.

Importance of leaving public comments on the IRS’s new regulations on crypto:

  • The IRS is proposing changes that would require centralized crypto exchanges to report user data to the agency.
  • Leaving public comments is crucial in voicing concerns and opinions about the new regulations.
  • Lack of clarity and excessive tax burdens are major issues in the crypto industry that need to be addressed.

Hester Pierce’s dissent on the SEC’s approach to the library case:

  • Pierce criticizes the SEC for going after library, a decentralized social media platform, while showing leniency towards other projects.
  • The SEC’s inconsistent enforcement of regulations raises concerns about fairness and regulatory clarity.
  • Pierce emphasizes the importance of regulatory agencies only bringing cases they believe will pass judicial scrutiny.

DTCC’s acquisition of Securency to deepen its blockchain push:

  • The depositary trust and clearing corporation is buying startup Securency to offer blockchain tech and services.
  • The acquisition aims to tokenize projects, facilitate the issuance of securities, and enhance post-trade processes.
  • This move highlights the growing interest and adoption of blockchain technology in traditional financial institutions.

LastPass hack and the importance of securing crypto assets:

  • LastPass, a password management tool, experienced a hack resulting in the loss of $4.4 million from 25 victims.
  • Storing seed phrases or keys in LastPass is risky and can lead to the compromise of crypto assets.
  • Users are advised to migrate their crypto assets to secure storage methods and exercise caution with password management tools.

00:00 –  Intro

03:55 – The entire crypto market

04:05 – BTC daily, 12h & 4h

07:00 – Last chance to comment on IRS crypto regulation proposal

08:50 – 40 years jail time for SBF?

11:00 – SBF trial updates

18:05 – Join the DCTA today to fight back

20:00 – SEC commissioner disagrees with SEC approach to LBRY case

25:10 – RIPPLE CEO goes after former SEC Chairman

28:40 – Binance Tether FUD

30:25 – Biden’s executive order on Artificial Intelligence

33:00 – DTCC continues blockchain push

34:10 – Insane Solana price predictions

35:30 – Cool Solana NFT news

36:50 – Vaneck amends ETF application

37:35-  Is Gary Gensler a BTC maxi?

39:25 – Huge bank launching crypto services in Hong Kong

40:00 – Thailand bank buys stake in crypto exchange

40:50 – Will Twitter/X become a bank?

41:35 – Changes to creator monetization on X

42:55 – Huge LastPass platform hacked