OVERVIEW

Ellison Lands 2 Years, Gensler Gets Grilled

Before we dive in, here’s today’s crypto market heatmap:

And here’s a look at crypto’s total and altcoin market cap YTD:

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NEWS
Caroline Ellison Sentenced to 2 Years🤦‍♀️

Caroline Ellison, former top adviser and sometimes girlfriend to Sam Bankman-Fried, was sentenced to two years in prison for helping him swipe $8 billion from FTX customer accounts. 👮 

She pleaded guilty and became a key witness, dishing out testimony that helped sink Bankman-Fried, who’s now serving 25 years. Her attorney’s and the prosecution recommended no jail time.

Judge Kaplan appreciated her cooperation but wasn’t about to let her off the hook for her role in the mess. 📚

NEWS
Emmer Shreds Gensler 😨 

Congressman Tom Emmer came for SEC Chairman Gary Gensler, calling out his agency for breaking the law and lying to the courts. 💢 

Emmer accused Gensler of abusing enforcement powers, baiting companies eager to comply, and retaliating against those appearing before Congress.

Worst of all, Emmer said Gensler invented the term crypto asset security—a phrase that doesn’t exist in any statute—only for his lawyers to quietly retract it in court.

Emmer says these inconsistencies have set the country back, labeling Gensler’s leadership as historically destructive and lawless. 🔥

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