Sam Bankman-Fried Sentenced to 25 Years in Prison for FTX Fraud – The New York Times

Sam Bankman-Fried, the founder of the FTX cryptocurrency exchange who was convicted of stealing billions of dollars from customers, was sentenced to 25 years in prison on Thursday, capping an extraordinary saga that upended the crypto industry and became a cautionary tale of greed and hubris.

Mr. Bankman-Fried’s sentence was shorter than the 40 to 50 years that federal prosecutors had sought after a jury found him guilty of fraud, conspiracy and money laundering — charges that carried a maximum penalty of 110 years behind bars. But the punishment was far above the six and a half years requested by his defense lawyers.

Source: Sam Bankman-Fried Sentenced to 25 Years in Prison for FTX Fraud – The New York Times