In this week's round-up for CryptoWatch, TechTimes witnessed the significant court battle of one of the most infamous executives of our time, Sam Bankman-Fried, who is now looking to have most of his charges dropped. Moreover, there is a new development over at Bybit as it is looking to sponsor a team in a racing competition, as well as the Bank of Canada is introducing the possible future of currency.
Read on and learn more about what made the headlines in the past week, centering on the prolific FTX lawsuit against its CEO, race sponsorship, and more.
SBF Wants to Have the Charges Against Him Dropped
In a bid to prove his innocence and tell the world that he has nothing to do against FTX's collapse last year, Sam Bankman-Fried and his legal team are working to have 10 out of 13 charges against his name dropped by the prosecution. Most of SBF's charges center on fraud, and according to his legal team's latest memo submitted, there were unfair practices brought against their client.
Sullivan & Cromwell, the legal firm that represents Bankman-Fried, said that the US government rushed to judgment against their client, giving him a tarnished reputation in the eyes of the public and the jury.
This prolific case is also looking to have his charges separately tried instead of having all of his charges under one trial, to give him a fair advantage in court.
Bybit is Looking to Sponsor a Race Team
A new sponsorship is here for Safehouse Racegraph's Lamborghini team in the Super Trofeo in Asia, and its sponsor is none other than the third-most visited crypto exchange platform in the world, Bybit. Both the company and the team are proud to announce this new sponsorship for the team, centering on the adrenaline-pumping competition for the supercars.
Bybit is known for sponsoring different teams in multiple leagues worldwide.
One of its most iconic sponsorships is when it became the Principle Team Partner of Oracle Red Bull Racing in February 2022, and after a short time, the team is looking at another team to partner with, now in the Super Trofeo.
The race will be spread out to five matches across Asia and Australia, with the team showcasing Bybit's brand on their vehicles.
Bank of Canada's Digital Dollar
Bank of Canada has recently introduced a survey that asks the public about their opinion regarding a future where the Great North will use a digital currency, as an alternative to the Canadian Dollar. It centers on the development of a digital dollar that the public may use for different transactions via their smart devices and would be widely accessible to all.
It is important to note that this is not yet a sure deal for Canada's future financial state, as it is still under review and consideration by the bank.
One of its most important features would be its stable prices and would be a 1:1 exchange between the tangible Canadian Dollar and the digital version of it.
Moreover, the Bank of Canada says it is not a cryptocurrency and would be a digital currency regulated by the country.
