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The public channel had more than 109,000 subscribers, Judge Hui said. Ng had the power to remove or amend the messages in the channel, but he “allowed them to exist.” Hui said the time period and nature of some offences “overlapped” and thus their prison terms could be served concurrently. The judge ordered Ng to be jailed for a total of six years and six months. Just at this time, Bitcoin and the broader crypto market have dropped to new 2022 lows. The Bitcoin price has tanked 10 percent dropping to $20,000. On the other hand, the altcoin space is witnessing even more brutal correction. Bitcoin has dropped nearly 60 percent year-to-date and more than 70 percent since its all-time high in November 2021. So far, more than a dozen different members have contributed to the group, posting voice notes of themselves screaming, yelling, groaning, and wailing in various pitches and rhythms. In handing down the sentence yesterday, deputy judge Peter Hui Shiu-keung of the district court said that even if Ng did not post the messages, he cannot shirk responsibility as the owner and administrator of such a big group for allowing these messages that incite illegal behaviors to exist.
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