This, I feel, is tarnishing the image of the cryptocurrencies to have defrauded businesses and move it through his company, Thodex. Thodex was founded in 2017 and became on of Turkey's largest exchange for digital currencies.
There are more fugitive in fiat word than crypto. Such harsh sentence was not expected but this guy going to jail will bring peace of mind to those who suffered because of his action. Meanwhile those investors of FTX are still suffering. I think such judgement won't tarnish the image of cryptocurrency but improve its reputation as people will now know that scammers cannot escape the law. There is cross border crypto regulation policy that will be up for discussion in the ongoing G20 summit in India. If the synthesis paper is approved then it won't be easy for such scammers in the future.
