Sam Bankman-Fried, the Founder of the collapsed
cryptocurrency exchange FTX, was sentenced to 25 years in prison by Judge Lewis
A. Kaplan on Thursday. Bankman-Fried was found guilty on multiple counts of
wire fraud and conspiracy that led to the collapse of the crypto exchange,
causing millions of losses to investors.
The legal tussle reached its climax with the recent
sentencing, where prosecutors sought a staggering 40 to 50 years behind bars
for the disgraced crypto king. Despite the harsh verdict, Bankman-Fried’s
defense team remains undeterred, vowing to appeal both the conviction and the
sentencing.
Expect ongoing updates as this story evolves.
Sam Bankman-Fried, the Founder of the collapsed
cryptocurrency exchange FTX, was sentenced to 25 years in prison by Judge Lewis
A. Kaplan on Thursday. Bankman-Fried was found guilty on multiple counts of
wire fraud and conspiracy that led to the collapse of the crypto exchange,
causing millions of losses to investors.
The legal tussle reached its climax with the recent
sentencing, where prosecutors sought a staggering 40 to 50 years behind bars
for the disgraced crypto king. Despite the harsh verdict, Bankman-Fried’s
defense team remains undeterred, vowing to appeal both the conviction and the
sentencing.
Expect ongoing updates as this story evolves.
