Crypto News & Opinion Game Over for FTX " Updated "

Thread starter upnorth
Start date Nov 10, 2022

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Fallen crypto mogul Sam Bankman-Fried sentenced to 25 years in prison

Sam Bankman-Fried has been sentenced for a cryptocurrency fraud described as one of the biggest financial frauds in U.S. history.

apnews.com

NEW YORK (AP) — Crypto entrepreneur Sam Bankman-Fried was sentenced Thursday to 25 years in prison for a massive fraud on hundreds of thousands of customers that unraveled with the collapse of FTX, once one of the world’s most popular platforms for exchanging digital currency.

Though he described Bankman-Fried as “extremely smart,” U.S. District Judge Lewis A. Kaplan delivered a blistering analysis of Bankman-Fried and his crimes before announcing a sentence that was half of what prosecutors sought and less than a quarter of the 105 years recommended by the court’s probation officers.