FTX Founder Sam Bankman-Fried Sentenced to 25 Years in Prison, Judge Criticizes Performance on Stand

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Cointime2024/04/10 02:43

By:Cointime

Former FTX CEO Sam Bankman-Fried received a 25-year prison sentence last month, following a two-hour sentencing hearing that included statements from various parties. During the hearing, Bankman-Fried expressed regret for his actions and suggested wrongdoing by current FTX CEO John J. Ray III and the bankrupt exchange's cleanup crew. However, the judge disagreed with the defense's objections to sentencing guidelines and handed down a baseline sentence of 110 years. Bankman-Fried's legal team plans to appeal the sentence, but it may be difficult to succeed. Other news includes fraud charges against Do Kwon and Terraform Labs, optimism about stablecoin legislation from Congressman McHenry, and a Binance executive facing charges of tax evasion and money laundering in Nigeria.

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Coinomedia•2025/05/11 16:33