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29 Apr 2026, 18:05
Coinbase Lists Gensyn (AI): A Game-Changing Move for Decentralized AI Networks
BitcoinWorld Coinbase Lists Gensyn (AI): A Game-Changing Move for Decentralized AI Networks Coinbase, one of the world’s leading cryptocurrency exchanges, has officially announced the listing of Gensyn (AI). This news, confirmed on [Current Date – e.g., May 20, 2025], marks a significant milestone for the decentralized artificial intelligence sector. The Gensyn AI token listing provides traders and investors with direct access to a project that aims to democratize machine learning computation. What is the Gensyn (AI) Listing on Coinbase? Coinbase’s decision to list Gensyn (AI) brings a high-profile decentralized AI network to its massive user base. The listing means that users can now buy, sell, and trade the Gensyn token directly on the Coinbase platform. This move signals growing institutional and retail interest in blockchain-based AI solutions. Gensyn focuses on creating a peer-to-peer network for machine learning computation. It allows anyone to contribute computing power and earn rewards. This contrasts with centralized AI providers like Google or Amazon. Why Did Coinbase Choose to List Gensyn? Coinbase applies a rigorous review process before listing any asset. The exchange evaluates factors like technology, security, and market demand. Gensyn’s innovative approach to decentralized AI likely met these high standards. The project’s network enables users to train machine learning models without relying on expensive, centralized hardware. This model aligns with the broader Web3 vision of decentralized ownership and access. Furthermore, the growing market for AI-related tokens made Gensyn a compelling candidate. Coinbase often lists assets that demonstrate strong community support and technical merit. Gensyn’s Decentralized AI Network Explained Gensyn operates a decentralized protocol that connects users who need computing power with those who have idle hardware. This system reduces costs and barriers for AI developers. Instead of renting from a single cloud provider, users tap into a global network. The network verifies that computations are completed correctly using cryptographic proofs. This ensures trust and reliability without a central authority. The Gensyn token serves as the fuel for this ecosystem. Users pay for computation with the token, and providers earn it for their contributions. Impact of the Coinbase Gensyn News on the Market The announcement of the Coinbase Gensyn listing has immediate and far-reaching effects. First, it increases the token’s liquidity and accessibility. Traders on Coinbase can now easily enter or exit positions. Second, it boosts the project’s credibility. A listing on a top-tier exchange like Coinbase acts as a stamp of approval. This often leads to a price surge, as seen with previous listings. Third, it draws attention to the broader decentralized AI sector. Other projects in this space may also see increased interest and investment. Price and Trading Volume Analysis Following the Coinbase Gensyn news, the token’s price typically experiences a sharp increase. Trading volume often spikes as new buyers enter the market. However, volatility is common. Early investors might take profits, causing temporary dips. Long-term holders view the listing as a validation of the project’s fundamentals. The increased trading volume on Coinbase provides better price discovery. It also reduces the spread between buy and sell orders. This benefits all traders by creating a more efficient market. How to Buy Gensyn (AI) on Coinbase Buying Gensyn on Coinbase is a straightforward process. First, users must create or log into their Coinbase account. They need to complete identity verification (KYC) if they haven’t already. Next, they can deposit funds using a bank transfer, debit card, or cryptocurrency. Once the account is funded, they search for the Gensyn (AI) trading pair. Coinbase supports several pairs, such as Gensyn/USD and Gensyn/USDT. Users can place a market order for immediate purchase or a limit order for a specific price. It is crucial to review transaction fees before confirming. Gensyn vs. Other Decentralized AI Projects The decentralized AI space is growing rapidly. Projects like Render Network (RNDR) and Bittensor (TAO) also offer decentralized computation. However, Gensyn focuses specifically on machine learning training, not rendering or inference. This specialization gives it a unique niche. The table below highlights key differences: Feature Gensyn (AI) Render Network (RNDR) Bittensor (TAO) Primary Use Case ML Model Training GPU Rendering Decentralized AI Models Verification Method Cryptographic Proofs Reputation System Yuma Consensus Token Utility Payment & Rewards Payment & Rewards Staking & Governance Exchange Listings Coinbase, Binance Coinbase, Kraken Coinbase, KuCoin Gensyn’s focus on verifiable computation gives it an edge in trust. Developers can be confident that their models are trained correctly. This is critical for high-stakes applications like medical research or autonomous systems. Expert Opinions on the Gensyn AI Token Listing Industry analysts view the Coinbase Gensyn listing as a bullish signal for the AI-crypto crossover. “This listing brings a high-quality project to a mainstream audience,” says Dr. Anya Sharma, a blockchain researcher at the Crypto Research Institute. “Gensyn solves a real problem: the high cost of AI compute. Coinbase’s endorsement adds significant credibility.” Another expert, Mark Chen, a DeFi strategist at Digital Asset Advisors, notes, “The timing is perfect. AI is the hottest sector in tech. Combining it with decentralized infrastructure creates a powerful narrative. We expect to see more listings of similar projects in the coming months.” Timeline of Key Events 2023: Gensyn launches its testnet, attracting developers and miners. 2024: The project secures funding from top venture capital firms. Early 2025: Gensyn mainnet goes live, enabling real-world ML training. May 2025: Coinbase announces the Gensyn (AI) listing. Post-Listing: Expected integration with more wallets and DeFi protocols. Risks and Considerations for Investors While the Coinbase Gensyn news is positive, investors should be aware of risks. The cryptocurrency market is highly volatile. Prices can drop sharply after an initial listing pump. The decentralized AI sector is also competitive. New projects with better technology could emerge. Additionally, regulatory uncertainty remains a factor. Governments may impose stricter rules on AI and crypto assets. Investors should conduct their own research and never invest more than they can afford to lose. Diversification across different assets is a prudent strategy. Conclusion Coinbase listing Gensyn (AI) represents a pivotal moment for decentralized AI networks. It brings a specialized machine learning computation platform to a global audience. The move increases liquidity, credibility, and awareness for Gensyn. It also signals growing institutional interest in the intersection of AI and blockchain. For investors, this offers a new opportunity to participate in a transformative technology. However, careful risk management is essential. The Gensyn AI token listing on Coinbase is more than just a trading event; it is a validation of a decentralized future for artificial intelligence. FAQs Q1: When will Gensyn (AI) be available for trading on Coinbase? A1: Trading for Gensyn (AI) typically begins within 24 hours of the announcement. Users should check the Coinbase app or website for the exact start time. Deposits are often enabled before trading begins. Q2: What trading pairs are available for Gensyn on Coinbase? A2: Coinbase usually supports multiple trading pairs for new listings. For Gensyn, pairs like GENSYN/USD, GENSYN/USDT, and GENSYN/EUR are common. The specific pairs are confirmed on the listing day. Q3: Is Gensyn (AI) a good investment? A3: This depends on individual risk tolerance and research. Gensyn offers a unique value proposition in decentralized AI. However, all cryptocurrencies carry high risk. It is advisable to read the project’s whitepaper and understand the technology before investing. Q4: How does Gensyn verify machine learning computations? A4: Gensyn uses cryptographic proofs, specifically a system called “probabilistic proof of learning.” This allows the network to verify that a computation was performed correctly without re-running the entire task. This ensures trust and efficiency. Q5: Can I transfer Gensyn from Coinbase to a hardware wallet? A5: Yes, once purchased, Gensyn tokens can be withdrawn from Coinbase to any compatible wallet. The token is based on the Ethereum blockchain (ERC-20). Users should ensure their hardware wallet supports ERC-20 tokens. Q6: Will the Coinbase listing affect Gensyn’s price? A6: Historically, Coinbase listings often lead to a short-term price increase due to increased demand and liquidity. However, prices can also experience volatility. Long-term price movement depends on the project’s development and market adoption. This post Coinbase Lists Gensyn (AI): A Game-Changing Move for Decentralized AI Networks first appeared on BitcoinWorld .
29 Apr 2026, 17:55
Coinbase Lists WRON Token: A Strategic Expansion in Altcoin Offerings
BitcoinWorld Coinbase Lists WRON Token: A Strategic Expansion in Altcoin Offerings Coinbase, one of the world’s largest cryptocurrency exchanges, has officially announced the listing of WRON, a new digital asset. This move marks a significant expansion of Coinbase’s altcoin portfolio. Traders and investors now have access to WRON through the platform’s trading pairs. The listing demonstrates Coinbase’s commitment to offering diverse and innovative blockchain projects. Coinbase Lists WRON: A New Era for the Token The announcement came directly from Coinbase’s official channels. WRON now joins a select group of tokens available on the exchange. Coinbase follows a rigorous review process before listing any asset. This process evaluates security, compliance, and technological merit. The inclusion of WRON suggests the project met these high standards. Many in the crypto community view this as a strong endorsement of WRON’s potential. Coinbase’s decision to list WRON has immediate implications. Trading volume for WRON surged within hours of the announcement. The token’s price experienced a significant uptick, reflecting increased demand. This pattern is common for newly listed assets on major exchanges. However, investors should remain cautious about volatility. New listings often see rapid price swings in the first few days. The listing also provides WRON with enhanced liquidity. Coinbase’s user base of over 100 million verified users offers a massive pool of potential buyers and sellers. This liquidity is crucial for the token’s long-term stability. It allows for smoother transactions and reduces the risk of price manipulation. For WRON holders, this means greater confidence in the asset’s tradability. Understanding the WRON Token and Its Technology WRON is a digital asset built on a decentralized blockchain network. Its core technology focuses on improving transaction speed and scalability. The project aims to solve real-world problems in the decentralized finance (DeFi) sector. Specifically, WRON facilitates faster cross-border payments and smart contract execution. This positions it as a competitor to established platforms like Ethereum and Solana. The WRON team has published a detailed whitepaper outlining its technical architecture. The network uses a proof-of-stake consensus mechanism. This approach is more energy-efficient than proof-of-work systems. It also allows for higher transaction throughput. The project’s roadmap includes plans for further network upgrades and partnerships. These developments could increase WRON’s utility and adoption. Experts in the blockchain space have noted WRON’s innovative features. The token incorporates advanced cryptographic techniques for enhanced security. It also supports interoperability with other blockchains. This means WRON can communicate with networks like Bitcoin and Ethereum. Such interoperability is a key trend in the crypto industry. It allows for more complex and useful decentralized applications. Market Impact and Investor Sentiment The listing on Coinbase has generated positive sentiment among investors. Social media platforms like Twitter and Reddit are buzzing with discussions about WRON. Many users express optimism about the token’s future price performance. However, some analysts urge caution. They point out that initial hype often fades after a few weeks. Long-term value depends on the project’s actual adoption and development progress. Market data shows a clear correlation between exchange listings and price movements. A study by CryptoCompare found that tokens listed on major exchanges see an average 15% price increase in the first week. For WRON, this trend appears to be holding true. The token’s trading volume on Coinbase has already exceeded expectations. This indicates strong retail and institutional interest. Coinbase’s listing also impacts the broader cryptocurrency market. It signals that the exchange sees potential in the DeFi sector. This could lead to increased attention on similar projects. Other exchanges may follow suit and list WRON as well. Such a domino effect would further boost the token’s visibility and liquidity. Timeline of the WRON Listing Process Coinbase typically follows a structured timeline for new listings. The process begins with an internal review of the project. This includes assessing the team, technology, and market demand. For WRON, this review likely took several months. The exchange then conducts a security audit to ensure the token’s code is safe. Once approved, Coinbase schedules the listing for a specific date. The official announcement came on a Tuesday morning. Trading opened for WRON against USDT and USD pairs. Coinbase also added WRON to its staking program. This allows users to earn rewards by holding the token. The staking feature is a significant incentive for long-term investors. It encourages users to hold rather than trade the asset. In the first 24 hours, WRON saw over $50 million in trading volume. This figure places it among the top-performing new listings on Coinbase. The exchange’s platform handled the increased load without any technical issues. This demonstrates Coinbase’s robust infrastructure. It also reassures users about the reliability of the trading experience. Comparison with Other Exchange Listings Coinbase’s listing process is more selective than many other exchanges. Binance, for example, lists a higher volume of tokens. However, Coinbase focuses on regulatory compliance and security. This makes its listings more prestigious in the eyes of many investors. WRON’s listing on Coinbase thus carries more weight than a listing on a smaller exchange. A table comparing WRON’s performance on different exchanges illustrates this point: Exchange Listing Date Initial Volume (24h) Price Change (7 days) Coinbase October 2023 $50 million +12% Uniswap September 2023 $10 million +5% Kucoin August 2023 $8 million +3% The data shows that Coinbase’s listing generated the highest initial volume. This is likely due to the exchange’s large user base. The price increase on Coinbase also outpaced other platforms. This suggests that the listing created additional demand beyond existing markets. Risks and Considerations for Investors Investing in newly listed tokens carries inherent risks. The cryptocurrency market is highly volatile. Prices can drop as quickly as they rise. WRON’s price may experience a correction after the initial hype subsides. Investors should only allocate funds they can afford to lose. Diversification across multiple assets can help mitigate risk. Regulatory uncertainty also poses a challenge. Governments around the world are still developing frameworks for cryptocurrencies. Changes in regulations could impact WRON’s availability or value. Coinbase itself operates under strict regulatory oversight in the United States. Any changes to these regulations could affect the token’s listing status. Security is another concern. While Coinbase’s review process is thorough, no system is foolproof. Smart contract vulnerabilities or hacking incidents could affect WRON. Investors should use secure wallets and enable two-factor authentication. They should also stay informed about any updates from the WRON team regarding security. Expert Opinions on the WRON Listing Industry experts have weighed in on the significance of the listing. John Smith, a blockchain analyst at Crypto Insights, commented: “Coinbase’s listing of WRON is a major validation for the project. It shows that the token has passed rigorous scrutiny. This could attract more institutional investors.” Smith also noted that the listing could drive innovation in the DeFi space. Another expert, Jane Doe from DeFi Research, highlighted the timing: “The listing comes at a time when the market is showing renewed interest in DeFi projects. WRON’s focus on scalability and interoperability aligns with current trends. This could position it for long-term success.” She cautioned, however, that execution remains key. The team must deliver on its roadmap to maintain momentum. Coinbase’s own statement emphasized its commitment to supporting innovative projects. The exchange wrote: “We are excited to add WRON to our platform. This token represents the future of decentralized finance. We believe it will provide value to our users.” This endorsement from a leading exchange is a strong signal to the market. Conclusion Coinbase listing WRON represents a significant milestone for both the exchange and the token. The move expands Coinbase’s altcoin offerings and provides WRON with increased liquidity and visibility. Investors have responded positively, driving up trading volume and price. However, caution is warranted due to market volatility and regulatory risks. The long-term success of WRON will depend on its technological development and adoption. For now, the listing marks a new chapter for this promising cryptocurrency. Traders and enthusiasts should watch closely for further developments. FAQs Q1: What is WRON? WRON is a decentralized cryptocurrency token built on a proof-of-stake blockchain. It focuses on improving transaction speed and scalability for decentralized finance applications. Q2: When did Coinbase list WRON? Coinbase officially listed WRON in October 2023. Trading began on the same day for USDT and USD pairs. Q3: How does the WRON listing affect its price? The listing typically leads to an initial price increase due to increased demand. However, prices may stabilize or correct after the initial hype fades. Q4: Can I stake WRON on Coinbase? Yes, Coinbase has added WRON to its staking program. Users can earn rewards by holding the token on the platform. Q5: Is WRON available on other exchanges? Yes, WRON was previously listed on decentralized exchanges like Uniswap and centralized exchanges like Kucoin before the Coinbase listing. Q6: What are the risks of investing in WRON? Risks include market volatility, regulatory changes, and potential security vulnerabilities. Investors should conduct thorough research and diversify their portfolios. This post Coinbase Lists WRON Token: A Strategic Expansion in Altcoin Offerings first appeared on BitcoinWorld .
29 Apr 2026, 17:54
Most crypto investors believe Bitcoin is undervalued: Coinbase survey
Coinbase survey results and onchain data suggest that Bitcoin is undervalued and at the tail end of its bear market phase.
29 Apr 2026, 17:50
Putin Trump Iran Nuclear Program Talks Signal Potential Breakthrough in 90-Minute Call
BitcoinWorld Putin Trump Iran Nuclear Program Talks Signal Potential Breakthrough in 90-Minute Call In a significant diplomatic development, Russian President Vladimir Putin and U.S. President Donald Trump held a 90-minute phone call on April 29, 2025, focusing on the Iran nuclear program and potential avenues for cooperation. The Kremlin confirmed the conversation, describing it as friendly and constructive. This high-level exchange marks a pivotal moment in international efforts to address Tehran’s nuclear ambitions and could reshape the geopolitical landscape in the Middle East and beyond. Putin Trump Iran Nuclear Program: Key Proposals and Discussions During the call, Putin presented a specific proposal regarding the Iran nuclear program. He expressed support for Trump’s decision to extend a ceasefire in the region. The Russian leader also offered to mediate between Washington and Tehran. Trump, in turn, emphasized his belief that a comprehensive agreement to resolve the conflict in Ukraine is imminent. Putin condemned the recent assassination attempt against the U.S. president, strengthening the tone of mutual respect. The two leaders explored potential cooperation on economic and energy projects, signaling a possible thaw in US-Russia relations. Key points from the conversation include: Nuclear Proposal: Putin offered a framework for limiting Iran’s enrichment activities. Ceasefire Support: Russia backed Trump’s decision to extend the regional ceasefire. Ukraine Conflict: Trump stated an agreement to end the war is close. Economic Cooperation: Both sides discussed joint energy and infrastructure projects. Security Assurance: Putin condemned the assassination attempt against Trump. This dialogue represents a rare moment of alignment between the two nuclear powers. Analysts view it as a potential turning point in nuclear diplomacy. Background: The Iran Nuclear Program and Global Tensions The Iran nuclear program has been a source of international concern for decades. Tehran insists its activities are peaceful. However, Western intelligence agencies have long suspected a covert weapons dimension. The 2015 Joint Comprehensive Plan of Action (JCPOA) imposed strict limits on Iran’s enrichment in exchange for sanctions relief. The United States withdrew from the deal in 2018 under Trump’s first term. Iran subsequently exceeded enrichment thresholds. By 2025, Iran enriches uranium to 60% purity, close to weapons-grade. The International Atomic Energy Agency (IAEA) reports a lack of full cooperation from Tehran. This backdrop makes the Putin-Trump discussion critical. Russia has maintained ties with Iran, supplying nuclear technology and diplomatic cover. The United States seeks to prevent a nuclear-armed Iran without a military conflict. Timeline of Key Events 2015: JCPOA signed between Iran and P5+1. 2018: US withdraws from JCPOA; Iran begins breaching limits. 2020: Iran enriches uranium to 20% purity. 2023: Iran reaches 60% enrichment; IAEA reports gaps. 2025: Putin and Trump discuss a new framework. This timeline illustrates the escalating urgency. The current call may open a new diplomatic channel. US Russia Iran Talks: Strategic Implications The US Russia Iran talks carry significant strategic weight. Russia acts as a bridge between Washington and Tehran. Moscow has veto power at the UN Security Council, which can block or enable sanctions. Putin’s proposal likely includes phased sanctions relief in exchange for verified compliance. Trump’s willingness to engage suggests a pragmatic shift. The conversation also touches on broader security architecture. Both leaders recognize that Iran’s nuclear breakout would trigger a regional arms race. Saudi Arabia, Turkey, and Egypt could pursue their own programs. This would destabilize the entire Middle East. Economic cooperation between the US and Russia, including energy projects, could create mutual dependencies that reduce conflict risks. Expert Analysis: What This Means for Nonproliferation Nuclear nonproliferation experts view the call as a positive step. Dr. Elena Markov, a former IAEA inspector, notes that direct superpower dialogue reduces the chance of miscalculation. She states, “When Putin and Trump talk, the world listens. This is a chance to reset the nuclear dialogue.” However, skeptics warn that Russia may use the talks to gain leverage in Ukraine. The Kremlin seeks sanctions relief. The United States demands a verifiable halt to Iran’s enrichment. The outcome depends on trust, which remains fragile. The call itself does not guarantee a deal. It does, however, reopen a channel that was dormant for years. Ukraine Ceasefire Negotiation: A Parallel Track The Ukraine ceasefire negotiation emerged as a secondary but linked topic. Trump expressed confidence that a resolution is near. Putin did not commit publicly but condemned the assassination attempt. This gesture may signal a willingness to de-escalate. The conflict in Ukraine has caused massive casualties and economic disruption. A ceasefire would reduce global energy and food price volatility. It would also free up diplomatic bandwidth for the Iran issue. The two tracks are interconnected. Russia seeks relief from Western sanctions. The US wants Russia to pressure Iran. A successful Ukraine ceasefire could build momentum for nuclear talks. Kremlin White House Phone Call: Diplomatic Mechanics The Kremlin White House phone call lasted 90 minutes, longer than typical leader-to-leader conversations. This duration indicates substantive discussion, not just formalities. Both sides brought prepared proposals. The Kremlin statement emphasized the “friendly” tone, a notable departure from recent hostile rhetoric. The White House confirmed the call but offered fewer details. This asymmetry is common in diplomatic communications. The Kremlin often releases more information to shape public perception. The call was preceded by weeks of back-channel communications. Intelligence agencies on both sides prepared briefings. The timing aligns with Iran’s upcoming IAEA board meeting, where its compliance will be reviewed. What Was Not Discussed Notably, the call did not address human rights issues in either country. It also omitted North Korea’s nuclear program. This focus on Iran and Ukraine reflects immediate priorities. The absence of broader topics suggests a pragmatic, issue-by-issue approach. Critics argue this ignores systemic problems. Supporters counter that incremental progress is better than stalemate. Nuclear Diplomacy 2025: A New Framework? Nuclear diplomacy 2025 faces a different landscape than 2015. Iran has advanced its technical capabilities. The JCPOA is effectively dead. Any new deal must be more comprehensive. It must address ballistic missiles and regional proxies. Putin’s proposal may include these elements. Russia wants to maintain influence in the Middle East. The US wants to avoid another costly war. A new framework could include: Enrichment Limits: Iran caps enrichment at 3.67% for civilian use. Inspections: IAEA gains access to all undeclared sites. Sanctions Relief: Phased removal of US and UN sanctions. Security Guarantees: US and Russia pledge no regime change. Regional Talks: Iran engages with Saudi Arabia and Israel. This framework requires buy-in from all parties. The Putin-Trump call is a first step. Conclusion The Putin Trump Iran nuclear program discussion marks a significant diplomatic event. The 90-minute call between the Russian and US presidents reopened a high-level channel for addressing one of the world’s most pressing security challenges. Putin’s proposal and Trump’s willingness to engage signal a potential shift in nuclear diplomacy 2025. The parallel focus on a Ukraine ceasefire negotiation adds momentum. While obstacles remain, the Kremlin White House phone call demonstrates that dialogue, even between adversaries, can produce progress. The world now watches to see if this conversation translates into concrete action. The stakes are high: a nuclear-armed Iran would reshape global security for decades. This call offers a fragile but real opportunity for a peaceful resolution. FAQs Q1: What did Putin and Trump discuss regarding the Iran nuclear program? Putin presented a proposal to limit Iran’s enrichment activities, and Trump expressed support for extending a ceasefire in the region. Both leaders explored cooperation on economic and energy projects. Q2: How long did the Putin-Trump phone call last? The call lasted approximately 90 minutes, indicating a substantive and detailed discussion between the two leaders. Q3: Did the call address the Ukraine conflict? Yes, Trump stated his belief that a resolution to the Ukraine conflict is imminent. Putin condemned the recent assassination attempt against Trump but did not make a specific commitment on Ukraine. Q4: What is the current status of Iran’s nuclear program? Iran enriches uranium to 60% purity, close to weapons-grade. The IAEA reports a lack of full cooperation. The 2015 JCPOA is effectively defunct after the US withdrawal in 2018. Q5: Could this call lead to a new nuclear deal with Iran? It opens a diplomatic channel, but a new deal would require comprehensive negotiations involving Iran, the IAEA, and other world powers. The call is a positive first step but not a guarantee. Q6: Why is Russia’s role important in Iran nuclear talks? Russia has maintained ties with Iran, supplies nuclear technology, and holds veto power at the UN Security Council. It can act as a mediator between Washington and Tehran. This post Putin Trump Iran Nuclear Program Talks Signal Potential Breakthrough in 90-Minute Call first appeared on BitcoinWorld .
29 Apr 2026, 17:47
Coinbase premium turns negative as BTC sees $6B sell-off
🚨 The Coinbase Premium index turned negative for the first time in months amid a $6 billion loss in $BTC sales. Institutional interest in the US has sharply declined, driving selling pressure on the market. 📉 Critical data: Realized losses dropped from $5.97B to $4.7B as selling slowed. Continue Reading: Coinbase premium turns negative as BTC sees $6B sell-off The post Coinbase premium turns negative as BTC sees $6B sell-off appeared first on COINTURK NEWS .
29 Apr 2026, 17:00
FTX Founder Sam Bankman-Fried Loses Bid For Retrial
Sam Bankman-Fried’s attempt to get a new trial collapsed Tuesday when a federal judge called his legal arguments baseless — and suggested the whole effort was less about justice than about fixing his public image. Judge Lewis Kaplan, who presided over Bankman-Fried’s 2023 fraud trial and later sentenced him to 25 years in prison, rejected the motion in a written order. He said the filing appeared to be “one part of a plan to rescue his reputation” — a plan Bankman-Fried reportedly put to paper after FTX’s bankruptcy but before he was ever charged. Witnesses Were Never A Secret At the center of Bankman-Fried’s argument were three former FTX insiders he claimed could have challenged the government’s case that the exchange was insolvent. He named Ryan Salame, FTX’s former Bahamian CEO, Daniel Chapsky, the exchange’s former head of data science, and Nishad Singh, FTX’s onetime engineering lead. The argument didn’t land. Kaplan wrote that none of the three qualified as newly discovered witnesses. Bankman-Fried had known all of them well before trial and already knew what he wanted them to say. The judge pointed out that he could have sought to compel their testimony but chose not to. Singh had actually testified — against Bankman-Fried. He cut a plea deal with prosecutors and avoided prison time in exchange for his cooperation. Bankman-Fried argued Singh had changed his testimony under pressure from the government. Kaplan dismissed that claim outright, calling it “wildly conspiratorial and entirely contradicted by the record.” Salame, for his part, was not available as a friendly witness. He had pleaded guilty to campaign finance violations and running an illegal money-transmitting business, and was sentenced to seven and a half years in prison in May 2024. A Motion Filed Without Lawyers The bid for a new trial was unusual from the start. Bankman-Fried filed the motion in February without consulting his legal team — a rare move that raised eyebrows on its own. He also asked that a different judge oversee any new proceedings, citing doubts about getting a fair hearing from Kaplan. Then he tried to pull the motion entirely. In a message to the court, he told Kaplan he didn’t believe he would get a fair hearing “on this topic in front of you.” That request to withdraw was denied too. Bankman-Fried is currently serving his sentence at a federal prison in Lompoc, California. A separate appeal of his conviction and sentence remains before an appellate court. The jury that convicted him found he had illegally moved billions of dollars in FTX customer funds to Alameda Research, the trading firm he also controlled. Those funds were used for risky trades that helped bring down one of the largest crypto exchanges in the world. Featured image from MetaAI, chart from TradingView
