Sam Bankman-Fried sentenced to 25 years in jail for FTX fraud

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what is DMA (Direct Market Access)in the Indian share market?

What is DMA?

DMA, or Direct Market Access, is a service offered by stockbrokers that allows traders to place orders directly on the stock exchange’s order book. It eliminates the need for intermediaries, such as market makers or brokers, and provides traders with direct access to the market. This means that orders are executed faster and at potentially better prices.

How Does DMA Work in the Indian Share Market?

In the Indian share market, DMA is facilitated through the use of technology and trading platforms provided by stockbrokers. Traders can access the market through these platforms, which connect them directly to the stock exchange.

Benefits of DMA in the Indian Share Market

1. Speed and Efficiency: DMA enables faster order execution as orders are placed directly on the exchange’s order book. This can be particularly advantageous in volatile market conditions where every second counts.

Conclusion

DMA, or Direct Market Access, is a powerful tool that allows traders to directly access the stock exchange’s order book. In the Indian share market, DMA offers numerous benefits, including speed, transparency, control, lower costs, and access to real-time market data. By utilizing DMA, traders can enhance their trading experience and potentially improve their trading outcomes.

Sam Bankman-Fried, on Thursday, March 28, was sentenced to 25 years in federal jail for defrauding clients and traders of the FTX cryptocurrency alternate he based. He was convicted of stealing $8 billion from clients of the now-bankrupt FTX alternate.The sentence listening to of Sam Bankman-Fried, occurred on the Manhattan Federal Courtroom. Presiding over the listening to, Choose Lewis Kaplan declared that the previous billionaire had dedicated perjury throughout his testimony trial.A remorseful Bankman-Fried stated, “The collapse of FTX haunts me every day.”Choose Kaplan stated Bankman-Fried falsely testified that he had no information that Alameda had spent FTX buyer deposits earlier than the autumn of 2022. “The defendant’s assertion that FTX customers and creditors will be paid in full is misleading, it is logically flawed, it is speculative,” Kaplan stated.Moreover, Choose Kaplan said that Bankman-Fried engaged in witness tampering previous to his incarceration by speaking with the previous FTX common counsel.”A lot of people feel really let down, and they were very let down, and I am sorry about that. I am sorry about what happened at every stage. And there are things I should’ve done and things I shouldn’t have,” Bankman-Fried stated in his testimony.SBF expressed his anguish over the struggling endured by FTX’s clients. “It’s been excruciating to watch,” he stated. He additionally admitted duty for the ache inflicted as CEO. “I’m not the one that matters at the end of the day — it’s the customers and employees affected that matter.”Seeming to acknowledge his looming jail sentence, he stated, “My useful life is probably over. It’s been over for a while now.”Bankman-Fried, now 32, stood trial final yr on seven counts of fraud and conspiracy associated to the collapse of FTX in November 2022. The jury’s responsible verdict on November 2 marked a big blow to the previous billionaire, with prosecutors labelling the case as one of the crucial substantial monetary frauds in US historical past.Choose Kaplan stated the losses incurred by FTX clients, fairness traders, and hedge fund lenders amounted to billions of {dollars}, rejecting any notion of restitution via ill-gotten good points.(Edited by : Shoma Bhattacharjee)First Printed: Mar 28, 2024 8:35 PM IST

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