BREAKING: Sam Bankman-Fried Sentenced To 25 Years In Prison

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,231,811,183,276	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,231,811,183,276

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-251.66	-0.40%	62,796.81	62,796.53	62,796.83

Price Change

Price Change %

Current Price

Bid Price

Offer

-251.66

-0.40%

62,796.81

62,796.53

62,796.83

High Price	Low Price	Open Price	Prev. Close	52 Week Range
63,004.82	62,654.61	62,992.02	63,048.47	24,750.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

63,004.82

62,654.61

62,992.02

63,048.47

24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	02:23:43	0.000189	62,796.81	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

02:23:43

0.000189

62,796.81

USD

Price x Volume	Volume	Base Symbol	Related Pairs
26,924,705.87	428.49	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

26,924,705.87

428.49

BREAKING: Sam Bankman-Fried Sentenced To 25 Years In Prison

28/03/2024 4:14pm

NEWSBTC

In a highly anticipated courtroom verdict, Sam Bankman-Fried, the founder of the collapsed cryptocurrency exchange FTX, has been sentenced to 25 years in prison for defrauding users. US District Judge Lewis Kaplan delivered the judgment during a Lower Manhattan federal courtroom hearing. Related Reading: The Bulls Are Back: Spot Bitcoin Inflows Surge With New Records FTX Founder Sam Bankman-Fried Sentenced Judge Kaplan sternly criticized the defense’s argument, labeling it as “misleading, logically flawed, and speculative.” As reported by our sister site, Bitcoinist, Kaplan highlighted Bankman-Fried’s obstruction of justice and witness tampering during his defense, which were significant factors considered in the sentencing decision. Bankman-Fried expressed remorse in a statement, acknowledging that his series of “selfish” decisions as the leader of FTX had led to the exchange’s downfall. He admitted to having “thrown it all away” and expressed regret that continues to haunt him daily. Prosecutors had initially sought a maximum sentence of 50 years, while Bankman-Fried’s legal team argued for a maximum of 6 years. In November, Bankman-Fried was found guilty on seven criminal counts, and he has since been held at the Metropolitan Detention Center in Brooklyn. Life Plans Shattered Late Tuesday, prosecutors submitted documents containing testimonies from victims, shedding light on the impact of Bankman-Fried’s actions. One victim, whose name was redacted, wrote a letter dated March 15, describing the destruction of their entire life and the emotional toll it had taken on their family. They emphasized that they had entrusted their funds to FTX as a custodian, not consenting to the risks Bankman-Fried had taken with their money. The victim shared the suffering that had led to depression and even thoughts of suicide. Related Reading: Fantom: Market Slowdown Chops Off 10% From Gains – Here’s Why During the trial, prosecutors revealed that Bankman-Fried had diverted funds from FTX customers, amounting to as much as $8 billion. These funds were allegedly used to finance a wide range of external interests, including political initiatives, speculative investments, and funding the lifestyles of FTX executives. Featured image from Shutterstock, chart from TradingView.com

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