Sam Bankman-Fried Sentenced to 25 Years
According to Bloomberg, FTX founder Sam Bankman-Fried was sentenced Thursday to 25 years in prison for fraud tied to the collapse of his digital exchange, capping his meteoric rise and fall.
$Bitcoin(BTC.CC$ $Coinbase(COIN.US$ and $Marathon Digital(MARA.US$ climbed in concert Thursday as the major cryptocurrency rebounded past $unrelated to the crypoto crook's sentencing.
Last year, a jury found the 32-year-old guilty of stealing billions of dollars from FTX customers and defrauding investors and lenders to his crypto investment firm Alameda Research.
The Wall Street Journal reported that Bankman-Fried told the judge Thursday he was haunted by what he had done. "I was responsible for FTX, and its collapse is on me," he said.
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EZ_money : cool
Mynor Garcia : right, right, right he'll serve less than a year before his donor buddies let him walk while we're looking the other way.
SonnyM : Many are saying he'll get out after serving half. Should serve at least 50 years IMHO
SpyderCall Mynor Garcia: He will get house arrest eventually.
SpyderCall SonnyM: I think he should serve more than 50.
Kevin TraversOP SonnyM: I really hope not, biggest fraud in history by monetary value
Mynor Garcia SpyderCall: I think he should walk free, but there should be a law enacted making it legal for anyone to kick him in the nuts. If he goes to jail, then not only did he screw bunch of people out of their money but now the taxpayer gotta feed his sorry ass.
Shootingstar : The sentence is too short it encourages more to steal from usa and distribute the money quickly before getting caught