20-Year Prison Term Sought for Delio CEO: FTT Effect

Delio CEO Jeong Faces 20-Year Prison Demand

South Korean prosecutors have demanded a 20-year prison sentence for Delio's CEO, Jeong Sang-ho, the crypto asset investment platform. Delio created shockwaves in the industry when it suddenly halted customer withdrawals in June 2023. In closing arguments at the Seoul Southern District Court, prosecutors alleged that Jeong violated the Act on the Punishment of Specific Economic Crimes. This demand elevates the victims' long-awaited quest for justice to its peak. Yonhap news agency reported that the incident is linked to irregularities during Delio's operations.

FTX Collapse and Haru Invest Chain

The chain of events extends to Jeong being tried in April 2025; this occurred about a year after authorities requested an arrest warrant for the withdrawal halt scandal involving actors like Haru Invest and B&S Holdings. Prosecutors claim that Jeong embezzled approximately 250 billion won (168.8 million dollars) worth of crypto assets from 2,800 victims over the period from August 2021 to June 2023. Haru Invest, as we examined on our FTT detailed analysis page, had pointed to the FTX collapse as the source of the chain reaction problems, stating it suffered a 350 billion won loss. The defense states that they will compensate the victims if Jeong is acquitted. Victims insistently demand a heavy sentence from the court.

FTT Technical Outlook and Supports/Resistances

This case tests transparency and accountability standards in the crypto sector. The prosecutors' tough stance signals stricter oversight in platform managers' handling of customer funds. The court will announce its first-instance decision on July 16, and the ruling could set a precedent for similar cases. FTT is currently at $0.29, in a downtrend with 24h +2.30% change. RSI 46.71, Supertrend bearish, EMA20 $0.2934.

• Supports: S1 $0.2812 (⭐ Strong, -2.73%), S2 $0.2638 (⭐ Strong, -8.75%)
• Resistances: R1 $0.2907 (⭐ Strong, +0.55%), R2 $0.4095 (⭐ Strong, +41.65%)

Check current data for FTT futures. FTT spot analysis is recommended.