Sam Bankman-Fried sentenced to 25 years in prison for embezzling $8 billion from FTX clients. He risked a sentence of more than 100 years for fraud and criminal conspiracy.
Before his spectacular fall, "SBF" appeared as the ideal son-in-law of cryptos. He was a courted personality in Washington because of his generous donations to the Democratic Party. The fall of FTX exposed the endemic problems of the entire cryptocurrency industry, which is struggling to recover from the shock.