Web3 Diaries: Sam Bankman-Fried Jailed Ahead Of Trial
Sam Bankman-Fried, the creator of FTX, had his bond revoked by a federal judge on Friday after the erstwhile crypto heavyweight seemed to have attempted to tamper with witnesses. He was arrested ahead of his October trial on various financial crime allegations.
Bankman-Fried is willing “to risk crossing the line in an effort to get right up to the line, wherever it is,” said Judge Lewis Kaplan, of the U.S. District Court for the Southern District of
New York, later concluding: “All things considered I'm going to revoke bail.”
He added: “My conclusion is there is probable cause to believe the defendant has attempted to tamper with witnesses at least twice. … There is a rebuttable presumption that there is no set of conditions that will ensure Bankman-Fried will not be a danger”
Pro-Bitcoin Candidate Javier Milei Leads in Argentine Presidential Voting
Javier Milei, a libertarian candidate who has advocated for the elimination of the central bank and spoken favorably of Bitcoin, was in the lead in Sunday’s primary presidential election in Argentina.
With 84% of the vote counted, Milei – of the “La Libertad Avanza” (Freedom Advances) party – had 30.73% of the votes versus candidates from “Juntos por el Cambio” (Together for Change) and “Unidos por la Patria” (United for the Homeland), who received 28.14% and 26.84%, respectively.
Pre-election polls suggested Milei would finish no higher than third in today’s vote.
Red Flags Raised Against Coinbase ‘Base’ Project
Last week, Coinbase launched its new Base blockchain, after weeks of teasing the initiative, and is celebrating with Onchain Summer, a multi-week series of Web3 activations across art, gaming and music with brand partners like Coca-Cola and Friends With Benefits. The biggest mover on Base so far though is the new friends.tech app, but the project raises some red flags.
Base, the new blockchain is a layer 2 built on top of Ethereum using stack software from another popular layer 2 network, Optimism, and already boasts over 100 compatible decentralized apps (dapps) within its ecosystem.
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