A vibe check on crypto in the wake of the Sam Bankman-freed verdict.

From American public media, this is Marketplace Tech.

I'm Matt Levin. By now you've probably heard the trial of Sam Bankman Freed is over. The verdict for the

founder of the bankrupt crypto exchange FTX? Guilty on all seven charges

including fraud, money laundering, and campaign finance violations.

Bankman freed will be sentenced in spring.

So how is the world of Bitcoin and the blockchain

fearing now that its most famous ambassador will likely

end up behind bars.

Laura Shin is a crypto journalist and hosts the podcast unchained.

I asked her how people in the cryptocurrency world are reacting to the SBF trial.

I think many of them think that it was the right verdict because the

crypto community understands crypto so well. I think they were a lot earlier than mainstream media, they were a lot

earlier than non-cripto people and understanding really what happened.

For instance, even to this day I will hear in media or for instance the defense, you know during the trial was saying things like

FTX suffered a bank run and crypto people know that a bank run should not be possible with the crypto exchange, that banks operate

on fractional reserves, but crypto exchanges should not, for numerous reasons, which I could

go into it. It might take a little while, but the point is simply that for a crypto exchange as long as it's operating above board every single customer if they all want to withdraw all at once they should all be able to get their assets back. And so the minute that we woke up on

Tuesday morning, November 8th, 2022, and it was announced that finance was going to buy FTX,

everybody knew that FTX had done something right. Everybody in crypto, I should say everybody knew that FTS had done something wrong.

Everybody in crypto, I should say, knew that FTS had done something wrong.

And then what's interesting is a lot of the outrage after was about how the mainstream

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