A day after Sam Bankman-Fried was sentenced to 25 years in federal prison for stealing billions from customers, The Verge's Elizabeth Lopatto says that the disgraced crypto king is still gambling. “Sam Bankman-Fried has learned nothing,” Lopatto writes, “and I’m not sure any of the rest of us have, either.” https://flip.it/IUzntZ #Tech#FTX#Cryptocurrency#SBF#Technology
Well, I guess it's obvious what's gonna be the most trending hashtag on crypto socials for the next 48 to 72 hours (depending what crazy things bitcoin will do ) ... 😎
Well, I guess some people were hoping for more, but I would say justice was served. SBF is a scumbag who has hurt crypto more than anyone else in history ...
[The Washington Post] Sam Bankman-Fried sentenced to 25 years in prison
Sam Bankman-Fried, the former crypto mogul who co-founded FTX, also was ordered to repay more than $11 billion for his conviction on charges related to fraud and money laundering.
By Shayna Jacobs and Julie Zauzmer Weil
@Lazarou Did you see the size of his fine (never mind the prison sentence)?
It works out at about $500M per year of the sentence (and is about 40% greater than the fraud he's convicted of). He's going to be in his late 50s and bankrupt when (if) he gets out of prison.
Crypto Scammer Sam Bankman-Fried Gets 25 Year Prison Sentence
One federal probation officer recommend Bankman-Fried spend 100 years behind bars, and he was eventually awarded a 25 year prison sentence for his stealing from his crypto customers.
@SirTapTap I get how the value of buttcoin has gone way up since the bankruptcy, but getting wiped out by a huge fraud and wanting to dive back into the “market” is so fucked
@sigmafactor I imagine most of them had shitcoins anyway, that's usually how the value of all these things get pumped up and when bills are due it's just nothing
@molly0xfff FTX implodes in 11/2022 and Bankman-Fried is sentenced 16 months later. Trump incites an insurrection in 1/2021 and 3+ years later jury selection is nowhere in sight.
He has also been ordered to pay the $11 billion monetary judgment requested by the prosecution. This is on top of assets already seized by the government.