A US judge has sentenced Sam Bankman-Fried, one-time crypto wunderkind, to 25 years behind bars.
Last November, at the end of a month-long trial, Bankman-Fried—known colloquially as SBF—was found guilty of seven counts of fraud and conspiracy in connection with the collapse of FTX. The exchange had fallen to pieces in November 2022 after running dry of funds with which to process customer withdrawals.
” Bankman-Fried’s counsel argued for a shorter sentence given that FTX creditors are on track to recover their money in full at the end of the bankruptcy process—although not everyone’s happy with the outdated valuation of the assets, given crypto’s recent meteoric rise in price. They also dismissed the government’s claim that Bankman-Fried would reoffend if allowed to reenter society too quickly as “conjecture on top of hypothetical on top of supposition.
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