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
FG Nexus Executes Significant Ethereum Sale
FG Nexus has sold 2,500 Ethereum for approximately $804 million, adjusting its portfolio strategy.
Coinone Issues Warning for MILK Token
Coinone has issued a formal investment caution for the MILK token, citing concerns over its business viability and lack of transparency.
Coinone Delists MYRO Amid Regulatory Scrutiny
Coinone has announced the delisting of the MYRO token due to concerns over its community activity and business viability.
Bitcoin Faces Resistance at 94K as Price Fails to Hold Above Key Level
Bitcoin faces significant challenges in breaking past the 94,000 resistance level, closing below it on both daily and weekly candles.
Mutuum Finance Surges as a New Contender in the Crypto Market
Mutuum Finance, a new lending protocol, has gained significant traction, surging over 3x during its presale and attracting a growing number of holders.
Zero Knowledge Proof (ZKP) Emerges as a Key Player in AI Privacy
ZKP technology addresses the growing need for privacy in AI by enabling computation on encrypted data.
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