Cryptocurrency wunderkind Sam Bankman-Fried sentenced to 25 years in prison. The co-founder of FTX was sentenced this Thursday in New York.
He faced a maximum sentence of more than 100 years for the seven crimes, including several counts of fraud and money laundering. The young man's lawyers asked for 5 years and three months to 6 and a half years, since they assured that he intends to return the defrauded money to those affected. FTX, which was once valued at $32 billion (almost €29.7 billion), collapsed in November 2022 after many users rushed to withdraw their funds.