Crypto entrepreneur Sam Bankman-Fried was sentenced on Thursday to 25 years in prison for a massive fraud that unravelled with the collapse of FTX, once one of the world’s most popular platforms for exchanging digital currency.
Bankman-Fried, 32, was convicted in November of fraud and conspiracy a dramatic fall from a crest of success that included a Super Bowl advertisement and celebrity endorsements from stars like quarterback Tom Brady, basketball star Stephen Curry and comedian Larry David.
US District Judge Lewis A. Kaplan imposed the sentence in the same Manhattan courtroom where, four months ago, Bankman-Fried testified that his intention had been to revolutionize the emerging cryptocurrency market with his innovative and altruistic ideas, not to steal.
Kaplan said the sentence reflected that there is a risk that this man will be in position to do something very bad in the future. And it’s not a trivial risk at all. He added that it was for the purpose of disabling him to th
| Subscribe To Our Free Newsletter |
