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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. Public channels are public to the internet, regardless of whether or not they are subscribed. A public channel is displayed in search results and has a short address (link). As five out of seven counts were serious, Hui sentenced Ng to six years and six months in jail. It’s yet another bloodbath on Satoshi Street. As of press time, Bitcoin (BTC) and the broader cryptocurrency market have corrected another 10 percent amid a massive sell-off. Ethereum (EHT) is down a staggering 15 percent moving close to $1,000, down more than 42 percent on the weekly chart. With Bitcoin down 30% in the past week, some crypto traders have taken to Telegram to “voice” their feelings.
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