Hayden Adams, the founder of Uniswap, one of the world’s largest decentralized exchanges (DEXes), thinks the jury was right to find Sam Bankman-fried, also known as SBF, the disgraced founder of FTX, a now-defunct exchange, guilty on all seven charges brought forward by the prosecution.
SBF’s Guilty Verdict Is Correct: But Not Time To Celebrate
Taking to X on November 3, Adams, one of the influential figures in decentralized finance (DeFi), said though the jury might be correct in their decision, it might not be the right time to celebrate. The founder explained that the FTX bankruptcy not only led to users losing billions, but the industry took a massive reputational hit.
In Adams’ view, the few winners in this case are the lawyers involved and the various crypto opponents the founder didn’t mention.
The collapse of FTX in November 2022 marked a dark history in crypto. Happening at the tail-end of what was already a challenging year for leading assets like Bitcoin (BTC) and Ethereum (ETH), the fall of FTX caught the community mostly unawares.
Days before the then-popular exchange declared bankruptcy, Alameda Research and Caroline Ellison, one of the top executives associated with FTX, said they were willing to buy back FTT, the crypto…
