Cryptocurrency kingpin Sam Bankman-Fried has been sentenced to 25 years in prison for embezzling $8 billion from customers of the FTX exchange.
Just 18 months ago, Sam Bankman-Fried was the king of cryptocurrency and one of the youngest billionaires on the planet. He managed to bankrupt his company FTX in one night and was found guilty of embezzlement.
Thus, Sam Bankman-Fried, o founder του ανταλλακτηρίου κρυπτονομισμάτων FTX καταδικάστηκε για theft billions of dollars from his clients, with a sentence of 25 years in prison, closing a chapter that disrupted the crypto industry and became a cautionary tale for those consumed by greed.
The maximum sentence Bankman-Fried faced was 110 years, federal prosecutors had asked for 50 years, and his attorneys had asked for 6,5 years. The court found him guilty for fraud, conspiracy and money laundering and sentenced him to 25 years.
“He knew it was wrong. He knew it was criminal,” Judge Kaplan said of Bankman-Fried's actions. He was also ordered to seize about $11 billion of his assets data.
His barber had to eat the longest sentence.