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Who went to jail for crypto?

Miles Klee. Sam Bankman-Fried, the cryptocurrency entrepreneur who has struggled to control the narrative and dispel suspicions of fraud after his FTX exchange collapsed in early November, was arrested in the Bahamas on Monday, the country's attorney general announced in a statement. 6 days ago

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Sam Bankman-Fried, the cryptocurrency entrepreneur who has struggled to control the narrative and dispel suspicions of fraud after his FTX exchange collapsed in early November, was arrested in the Bahamas on Monday, the country’s attorney general announced in a statement. The arrest, according to the statement, “followed receipt of formal notification from the United States that it has filed criminal charges against SBF and is likely to request his extradition.” Bankman-Fried had continued to reside in the island nation, where FTX is headquartered, after being forced to step down as its CEO. The company, once among the largest crypto platforms in the world and valued at $32 billion, is now in bankruptcy proceedings. Prime Minister Philip Davis vowed that whatever actions the U.S. government may take against Bankman-Fried, the Bahamas “will continue its own regulatory and criminal investigations” in the matter. BREAKING: Attorney General of the Bahamas has said @SBF_FTX has been arrested following “receipt of formal notification from the United States that it has filed criminal charges against SBF and is likely to request his extradition.” pic.twitter.com/4Jpwf0FHea — sarah emerson (@SarahNEmerson) December 12, 2022 While it’s not entirely a surprise that Bankman-Fried would wind up in custody a month after FTX imploded, leaving many investors wiped out and a host of unanswered questions about what happened, it’s an outcome he had tried to avoid and downplay. Against his lawyers’ advice, SBF two weeks ago appeared by video for a keynote interview at the New York Times‘ DealBook Summit conference, where he denied wrongdoing while blaming the financial ruin on a series of his “mistakes.” Asked at that event about whether he felt he could safely travel to the U.S. without fear of detainment, he said he believed he could and bore no criminal liability. He also said the possibility of facing criminal charges was “not what I’m focusing on.” During that event and other interviews granted in defiance of sound legal advice, the 30-year-old Bankman-Fried — previously hailed as a wunderkind — fended off accusations of misuse of customer funds, shady real estate dealings in the Bahamas, and a hedonistic atmosphere at FTX’s offices and residential properties there. His former representation at the law firm Paul Weiss dropped him in mid-November, partly because he wouldn’t stop tweeting. Shortly before the arrest was announced, Sens. Sherrod Brown and Pat Toomey blasted Bankman-Fried’s refusal to testify before the Senate Banking Committee as “an unprecedented abdication of accountability.” He has, however, accepted various invitations to speak on Twitter Spaces, and did so for an audience of thousands on Monday morning — reportedly while gaming. INBOX: Sen. Brown and Toomey say that SBF has declined their invitation to testify in front of the Senate Banking Committee on Wednesday and his counsel are "unwilling to accept service of a subpoena" pic.twitter.com/5OhLL0k9eT — Leo Schwartz (@leomschwartz) December 12, 2022

He said yes https://t.co/2958TKxhAb — Meg Cunningham (@Meg_Cunn) December 12, 2022

Despite his supposed transparency so far, SBF’s explanations for the monumental crash he oversaw have remained frustratingly vague and incomplete. A formal prosecution — no matter what the verdict — is certain to change that by bringing out hard evidence and cooperating witnesses. Starting now, his I-screwed-up defense likely doesn’t cut it anymore.

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How long does it take to get 1 Bitcoin?

How long does it take to mine one Bitcoin? It takes around 10 minutes to mine just one Bitcoin, though this is with ideal hardware and software, which isn't always affordable and only a few users can boast the luxury of. More commonly and reasonably, most users can mine a Bitcoin in 30 days.

Bitcoin and other cryptocurrencies are, depending on who you speak to, taking over the world. They have erupted onto the scene in the last few years, with 2021 seeing them each new levels of exposure. They are everywhere now, and it's hard to get through a day without seeing or hearing some reference to Bitcoin or another cryptocurrency. But a lot of people still have questions about them.

How long does it take to mine one Bitcoin?

It takes around 10 minutes to mine just one Bitcoin, though this is with ideal hardware and software, which isn't always affordable and only a few users can boast the luxury of. More commonly and reasonably, most users can mine a Bitcoin in 30 days.

Can you mine a Bitcoin for free?

Technically, mining the Bitcoin can be done for free, as the software has no cost associated with it. However, there are huge costs involved with the hardware and electricity expenses. Mining equipment requires a lot of power, and it could cost as much as 73,000 dollars to process a Bitcoin, depending on the electricity costs in one's area. It is possible to join a mining pool to harness to computational power of hardware owned by several miners, but then each miner only receives a portion of the mined Bitcoin.

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