Oriontimes

   Founder of the FTX cryptocurrency exchange, Sam Bankman-Fried,who was convicted of stealing billions of dollars from his customers, was sentenced yesterday to 25 years in prison. His sentence was a fraction of the maximum penalty of 110 years he faced, but it still ranks as one of the longest imposed on a white-collar defendant in recent years, NYT reports. The sentencing signified the finale of a sweeping fraud case that exposed the rampant volatility and risk-taking across the loosely regulated world of cryptocurrencies. In November 2022, FTX imploded virtually overnight, erasing $8 billion in customer savings. At a trial last fall, Bankman-Fried was convicted of seven counts of fraud, conspiracy and money laundering. Bankman-Fried vowed to appeal his conviction, but in remarks after his sentencing he appeared to recognize that he would be in prison for some time. “My useful life is probably over now,” he said.

  The Insight Initiative for Community and Social Development, a nonprofit organization in Osogbo, welcomes the setting of Action Committee on cyber crimes and cyberbullying by the Osun State Government under the leadership of Senator Ademola Adeleke. We welcome the development as we believe that the media space in the state should be sanitised and made secure for all stakeholders in the state to feel safe. The need to halt the torrent of fake news circulated in the media space can not be more urgent than now.  However, we want to call on the government to ensure the committee is peopled with persons of impeccable character, integrity, and most importantly, understanding of the ethics and professional workings of the media. We advise that the panel should be a tripartite committee that will consist of Civil Society Organizations, media practitioners, and representatives of relevant agencies of the government (including security agencies).  We also urge the state governmen...