The crypto market is modestly negative today with bitcoin down 0.3%, or $47 to $16,721. It was a quiet holiday period as it chopped right around this level since December 17.
Sam Bankman-Fried will be in court today to enter a plea in his fraud case in New York. All reports suggest he will plead not guilty, setting the stage for what should be a monumental trial starting in late 2023.
Given that two top executives have already pleaded guilty and are likely to testify against Bankman-Fried, the odds of him avoiding a long prison sentence are remote. Whether FTX clients recover any of their account balances is another question.
