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Bankman-Fried sentenced to 25 years in prison
March 28, 2024 4:45 pm
  • Sam Bankman-Fried has been sentenced to 25 years in prison. 
  • FTX imploded in November 2022, with customers losing billions of dollars in assets.

Sam Bankman-Fried, the founder and former CEO of collapsed crypto exchange FTX, has been sentenced to 25 years in prison. 

FTX imploded and filed for bankruptcy in November 2022. Sam Bankman-Fried has been in jail awaiting sentence since being found guilty of fraud last year.

SBF gets 25 years in prison for fraud

US District Judge Lewis Kaplan sent Bankman-Fried to prison for less than what prosecutors had asked for. However, the sentencing has delivered a timely reminder to crypto bosses after the FTX demise reverberated across the industry in 2022.

The sentencing on Thursday marks the end of one of the biggest fraud related cases in the world, with 32-year old Bankman-Fried at the center. He was also ordered to forfeit more than $11 billion in property. 

The former FTX chief apologized for his actions in brief remarks before the judge’s sentence. However, his claim that FTX customers will be made whole did not sit well with the judge.

The defendant’s assertion that FTX customers and creditors will be paid in full is misleading, it is logically flawed, it is speculative,” Judge Kaplan noted.

The post Bankman-Fried sentenced to 25 years in prison appeared first on CoinJournal.

Bankman-Fried sentenced to 25 years in prison
March 28, 2024 4:45 pm
  • Sam Bankman-Fried has been sentenced to 25 years in prison. 
  • FTX imploded in November 2022, with customers losing billions of dollars in assets.

Sam Bankman-Fried, the founder and former CEO of collapsed crypto exchange FTX, has been sentenced to 25 years in prison. 

FTX imploded and filed for bankruptcy in November 2022. Sam Bankman-Fried has been in jail awaiting sentence since being found guilty of fraud last year.

SBF gets 25 years in prison for fraud

US District Judge Lewis Kaplan sent Bankman-Fried to prison for less than what prosecutors had asked for. However, the sentencing has delivered a timely reminder to crypto bosses after the FTX demise reverberated across the industry in 2022.

The sentencing on Thursday marks the end of one of the biggest fraud related cases in the world, with 32-year old Bankman-Fried at the center. He was also ordered to forfeit more than $11 billion in property. 

The former FTX chief apologized for his actions in brief remarks before the judge’s sentence. However, his claim that FTX customers will be made whole did not sit well with the judge.

The defendant’s assertion that FTX customers and creditors will be paid in full is misleading, it is logically flawed, it is speculative,” Judge Kaplan noted.

The post Bankman-Fried sentenced to 25 years in prison appeared first on CoinJournal.

Bankman-Fried sentenced to 25 years in prison
March 28, 2024 4:45 pm
  • Sam Bankman-Fried has been sentenced to 25 years in prison. 
  • FTX imploded in November 2022, with customers losing billions of dollars in assets.

Sam Bankman-Fried, the founder and former CEO of collapsed crypto exchange FTX, has been sentenced to 25 years in prison. 

FTX imploded and filed for bankruptcy in November 2022. Sam Bankman-Fried has been in jail awaiting sentence since being found guilty of fraud last year.

SBF gets 25 years in prison for fraud

US District Judge Lewis Kaplan sent Bankman-Fried to prison for less than what prosecutors had asked for. However, the sentencing has delivered a timely reminder to crypto bosses after the FTX demise reverberated across the industry in 2022.

The sentencing on Thursday marks the end of one of the biggest fraud related cases in the world, with 32-year old Bankman-Fried at the center. He was also ordered to forfeit more than $11 billion in property. 

The former FTX chief apologized for his actions in brief remarks before the judge’s sentence. However, his claim that FTX customers will be made whole did not sit well with the judge.

The defendant’s assertion that FTX customers and creditors will be paid in full is misleading, it is logically flawed, it is speculative,” Judge Kaplan noted.

The post Bankman-Fried sentenced to 25 years in prison appeared first on CoinJournal.

Bankman-Fried sentenced to 25 years in prison
March 28, 2024 4:45 pm
  • Sam Bankman-Fried has been sentenced to 25 years in prison. 
  • FTX imploded in November 2022, with customers losing billions of dollars in assets.

Sam Bankman-Fried, the founder and former CEO of collapsed crypto exchange FTX, has been sentenced to 25 years in prison. 

FTX imploded and filed for bankruptcy in November 2022. Sam Bankman-Fried has been in jail awaiting sentence since being found guilty of fraud last year.

SBF gets 25 years in prison for fraud

US District Judge Lewis Kaplan sent Bankman-Fried to prison for less than what prosecutors had asked for. However, the sentencing has delivered a timely reminder to crypto bosses after the FTX demise reverberated across the industry in 2022.

The sentencing on Thursday marks the end of one of the biggest fraud related cases in the world, with 32-year old Bankman-Fried at the center. He was also ordered to forfeit more than $11 billion in property. 

The former FTX chief apologized for his actions in brief remarks before the judge’s sentence. However, his claim that FTX customers will be made whole did not sit well with the judge.

The defendant’s assertion that FTX customers and creditors will be paid in full is misleading, it is logically flawed, it is speculative,” Judge Kaplan noted.

The post Bankman-Fried sentenced to 25 years in prison appeared first on CoinJournal.

Bankman-Fried sentenced to 25 years in prison
March 28, 2024 4:45 pm
  • Sam Bankman-Fried has been sentenced to 25 years in prison. 
  • FTX imploded in November 2022, with customers losing billions of dollars in assets.

Sam Bankman-Fried, the founder and former CEO of collapsed crypto exchange FTX, has been sentenced to 25 years in prison. 

FTX imploded and filed for bankruptcy in November 2022. Sam Bankman-Fried has been in jail awaiting sentence since being found guilty of fraud last year.

SBF gets 25 years in prison for fraud

US District Judge Lewis Kaplan sent Bankman-Fried to prison for less than what prosecutors had asked for. However, the sentencing has delivered a timely reminder to crypto bosses after the FTX demise reverberated across the industry in 2022.

The sentencing on Thursday marks the end of one of the biggest fraud related cases in the world, with 32-year old Bankman-Fried at the center. He was also ordered to forfeit more than $11 billion in property. 

The former FTX chief apologized for his actions in brief remarks before the judge’s sentence. However, his claim that FTX customers will be made whole did not sit well with the judge.

The defendant’s assertion that FTX customers and creditors will be paid in full is misleading, it is logically flawed, it is speculative,” Judge Kaplan noted.

The post Bankman-Fried sentenced to 25 years in prison appeared first on CoinJournal.

FTX estate to unload $7.6B locked Solana balance at 68% discount
March 28, 2024 4:45 pm

Buyers are required to agree to a vesting period of four years for their FTX SOL purchase.

3 metrics hint that the Ethereum (ETH) price correction is not over
March 28, 2024 4:30 pm

Ethereum price has had a rocky week and data suggests that more downside could be on the way.

SingularityNet, Fetch.AI, Ocean Protocol merger will drive decentralized AI development: ChainGPT CEO
March 28, 2024 4:10 pm

The token merger will drive new resources and create new collaborations to bolster decentralized AI development, ChainGPT’s CEO told Cointelegraph.

OKX’s Global Compliance Chief Left After Six Months
March 28, 2024 3:56 pm
Patrick Donegan, whose LinkedIn profile says he managed a team of 300 people around the world, was at OKX from August 2023 to January 2024.
Former FTX Boss Sam Bankman-Fried Sentenced to 25 Years in Prison
March 28, 2024 3:52 pm
Former FTX Boss Sam Bankman-Fried Sentenced to 25 Years in PrisonOn Thursday, March 28, 2024, the former head of FTX, Sam Bankman-Fried, received his sentence during a federal court proceeding in Manhattan. U.S. Marshals escorted Bankman-Fried into the courtroom at precisely 9:39 a.m. Eastern Time, as reported by Matthew Russell Lee of Inner City Press. Judge Lewis Kaplan said, ” I know the Probation Department […]
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