The former CEO of FTX, Sam Bankman-Fried, has been given a 25-year prison sentence after being found guilty of defrauding customers and investors. Despite remorse for his actions and acknowledgment of harm caused to FTX's customers, the prosecution sought a harsher sentence of 40-50 years due to significant financial losses. Bankman-Fried's defense team argued for a shorter sentence based on his status as a non-violent first-time offender. The sentencing also included an order for Bankman-Fried to forfeit over $11 billion in assets.
Sam Bankman-Fried's Prison Sentence
by Giorgi Kostiuk
2 years ago
0
Other news
UK Advertising Standards Authority Takes Action Against Coinbase Ads
The UK Advertising Standards Authority has banned a series of advertisements from Coinbase for misleading marketing practices.
John Daghita Launches Memecoin LICK Amid Investigation
John Daghita, also known as Lick, launched a memecoin called LICK on the Pumpfun platform amid allegations of stealing over $40 million in cryptocurrency from US government wallets.
Foundation Ownership Transferred to Blackdove
Ownership of the NFT artist platform Foundation has been transferred to Blackdove to ensure its long-term future under new leadership.
Peter Brandt Identifies $93,000 as Key Level for Bitcoin Trend Reversal
Legendary trader Peter Brandt identifies $93,000 as a crucial level for Bitcoin to reverse its current downtrend.
XRP Burn Activity Surges, Indicating Potential Price Recovery
XRP burn activity has surged, with around 400 XRP burned as transaction fees on January 25, indicating a potential price recovery despite current market pressures.
China's Military Purge: No Impact on Cryptocurrency
The recent military purge in China, led by Xi Jinping, indicates significant internal changes but has no immediate impact on cryptocurrency markets.
Be the first to know about crypto news every day
Get crypto analysis, news and updates right to your inbox! Sign up here so you don’t miss a single newsletter