Sam Bankman-Fried sentenced to 25 years in prison as FTX saga draws to a close [Yahoo! Finance]
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Source: Yahoo! Finance
Instead, Judge Lewis Kaplan chose a harsher penalty, sentencing the 32-year-old to 25 years in prison. "The judgment has to adequately reflect the seriousness of the crime, and this was a very serious crime," Kaplan said. The stunning rise and fall of Bankman-Fried, once one of the most powerful figures in the high-flying crypto industry, captivated the public, with the FTX founder going from billionaire wunderkind to prison inmate seemingly overnight. His trial also became a referendum on the turbulent sector, which collapsed into a bear market alongside FTX's failure. Thursday's sentencing marks the end of the saga, though Bankman-Fried's lawyer said he would appeal his conviction Fall from grace Bankman-Fried served as the face of crypto's last bull run, with his tousle-haired visage displayed on billboards and advertisements. FTX, which he founded in 2019, grew to a valuation of over $30 billion, drawing prominent investors such as Sequoia Capital and the Singapore sove
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