There are currently tons of bullish fundamental indicators on SOL at the moment, but few compare to this.
Sam Bankman-Fried is reportedly hoping to spend a lot less than the recommended 100 years or more in prison.
And just like the biblical Paul, the disgraced founder of FTX is taking out some time behind bars to spread the Solana gospel.
In a document submitted by his lawyers to the U.S. District Court for the Southern District of New York, Bankman-Fried is reportedly asking for a maximum prison sentence of five and a half years.
This stands at a lot less than the 110-year maximum sentence he faces due to several accusations of money laundering and fraud.
Recall that a jury found Bankman-Fried guilty on two charges of wire fraud, two counts of wire fraud conspiracy, one count each of securities fraud, commodities fraud conspiracy, and money laundering conspiracy in November 2023, as the accused awaits sentencing on 28 March this year.
His attorneys asserted that, given that SBF is a first-time offender with no criminal history, that he acted with four other co-conspirators, and that no investors, lenders, or customers lost money as a result of his actions, the Pre-sentence Investigation Report's (PSR) recommended sentence of 100 years is both harsh and unfair.
They asserted that SBF has expressed regret and complied with the authorities, and that the FTX bankruptcy estate has enough assets to compensate all creditors in full. They also included letters from his relatives and friends that showed his moral reputation, and that he was pleading for forgiveness.
However, this isn't the most interesting part about Bankman-Fried's stay in prison.
But this isn't the most intriguing aspect of Bankman-Fried's incarceration.
SBF has not lost up on his interest in crypto, especially SOL, as he waits to find out his fate at the New York Metropolitan Detention Center.
The New York Times reported recently, that SBF has been advising fellow inmates and guards on how to invest in Solana, telling them that it is the cryptocurrency of the future and that they should buy it before it gets too expensive.
SBF and SOL have a long history.
In 2019, SBF participated in Solana's initial coin offering, and in 2020, the two companies launched Serum, a decentralized exchange based on the SOL network.
In 2021, he donated an additional $10 million to the Solana Foundation, a nonprofit that promotes the growth and use of SOL.
Over the last year, Solana has had a massive surge in both price and popularity, rising to a market cap of over $40 billion and sitting comfortably among the top 5 largest cryptos.
According to CoinMarketCap, Solana currently trades at around $133, as shown by the snapshot below:
In the charts, we can see that Solana is on the verge of a massive rally to $200.
The chart above shows that Solana is approaching the $143 resistance, and is set to break above since the last unsuccessful attempt in April 2022.
This presents a massive price level for investors to watch.
If for any reason, a break above $143 occurs and the cryptocurrency closes above with a daily candlestick, we are bound to see $SOL rally straight upwards from here, and end up somewhere above or close to $200.
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