Sam Bankman-Fried has reportedly addressed multiple media inquiries via email, asserting that he never believed his actions as F constituted a legal violation. Meanwhile, Tether has expanded its Bitcoin reserves by acquiring nearly 9,000 BTC, and Tron has accused the U.S. Securities and Exchange Commission (SEC) of exceeding its jurisdiction, arguing that the SEC's lawsuit against it extends beyond international boundaries and is overly aggressive.

SBF speaks out post-sentencing

Former FTX CEO Sam Bankman-Fried responded to queries following his 25-year prison sentence last week, stating, “I never believed what I was doing was unlawful.”

According to reports from ABC News, the former executive addressed questions via email from the Metropolitan Detention Center in Brooklyn, New York, where he has been detained since last August.

“I am tormented every day by what has been lost. I never had any intention to harm anyone or misappropriate funds,” SBF reportedly stated.

SBF attributed the collapse of FTX and its affiliated company, Alameda Research, to "poor decisions" but maintained that his actions were never driven by selfish motives.

In the wake of last week's verdict, SBF is slated to remain in federal custody until the age of 57. Judge Lewis Kaplan likened SBF to a "thief" and characterized his efforts to advocate for crypto regulation as "disingenuous."

SBF's legal team has indicated their intention to appeal the verdict, as stated last week.

Tether bolsters Bitcoin reserves with recent acquisition

Tether, the company behind the Tether (USDT) stablecoin, acquired 8,888 Bitcoin worth $618 million on March 31.

Following this acquisition, Tether's wallet now holds 75,354 Bitcoin, purchased at an average price of $30,305, valued at approximately $5.2 billion at the time of writing, according to on-chain data.

The wallet has seen a growth of over 128%, with a current unrealized profit of $2.94 billion, as per CoinStats data.

Tether currently ranks as the seventh-largest Bitcoin holder globally, based on BitInfoCharts data. Binance’s cold wallet holds the largest Bitcoin reserves, with over 248,597 Bitcoin valued at $17.31 billion.

Tron contends that the SEC's lawsuit goes "too far"

The organization behind the layer-1 blockchain Tron has petitioned a New York federal court to dismiss a lawsuit filed by the U.S. SEC, arguing that the regulator is overstepping its bounds by targeting "largely foreign activity."

"The SEC is not a global regulator," and its attempt to apply U.S. securities laws to "primarily foreign activities" is excessive, the Tron Foundation stated in a motion to dismiss filed on March 28.

In March 2023, the SEC sued Justin Sun, the Tron Foundation, supporters of the file-sharing platform, the BitTorrent Foundation, and its parent company Rainberry, both of which were acquired by Tron in 2018. The lawsuit alleges that the sale of Tron (TRX) and BitTorrent (BTT) tokens constitutes unregistered securities offerings.

Tron, headquartered in Singapore, argued in its motion that the SEC's case pertains to "foreign digital asset offerings to foreign buyers on global platforms," over which it lacks jurisdiction.

Tron maintained that the tokens were exclusively sold overseas, with measures taken to avoid the U.S. market, and the SEC did not allege that they were initially offered or sold to U.S. residents.