The US Attorney's Office has proposed sentencing the founder of the cryptocurrency exchange FTX, Sam Bankman-Fried, to a term of imprisonment ranging from 40 to 50 years. This proposal was outlined in an official document submitted to the court. Bankman-Fried's fate will be decided on March 28, 2024, when the verdict will be announced.

The prosecution has leveled accusations of greed and hypocrisy against Bankman-Fried, emphasizing that his actions in recent years have been aimed at personal enrichment through risky operations with other people's funds. The prosecution has stressed that despite all evidence, Bankman-Fried refuses to admit guilt and continues to deny the wrongdoing of his actions.

The document also states that Bankman-Fried could have led a productive and altruistic life, as he had claimed, but chose the path of deceit and fraud. The prosecution asserts that his actions warrant severe punishment, which will serve as a lesson to others and restore justice.

The affected clients of FTX have still not received compensation for their losses, and attempts by the defense to use the topic of restitution to mitigate the charges have been deemed insufficient. Furthermore, Bankman-Fried plans to open a new cryptocurrency exchange and resume operations of the Archangel LTD platform, raising additional questions about his intentions.

The court has found Bankman-Fried guilty on multiple counts, including fraud, misappropriation, and money laundering. Meanwhile, there is ongoing litigation regarding Bankman-Fried's parents, who are accused of leveraging their influence over their son for personal gain.

This story underscores the risks and consequences of dishonest management in the realm of cryptocurrencies and raises important questions about the reliability and security of cryptocurrency platforms.