The latest developments regarding the conviction of Sam “SBF” Bankman-Fried, known as one of the leading names in the cryptocurrency world and the former CEO of FTX, were among the topics that the crypto community talked about today. With the decision made by Judge Lewis Kaplan on March 28, Bankman-Fried was sentenced to 25 years in prison on charges of misuse of customer funds, causing great repercussions in the crypto world.
Judge Kaplan also imposed an obligation on Bankman-Fried to cover more than $11 billion in damages, which increased the severity of the decision. Of the fine in question, $1.7 billion is the loss of FTX investors, $1.3 billion is the receivables of creditors, and $8 billion is the loss of exchange customers.
While prosecutors claimed that Bankman-Fried should receive up to 50 years in prison for her accusations, defense lawyers requested a lighter sentence and asked the Judge to impose a prison sentence of up to 6.5 years.
In the statements made after Judge Kaplan’s decision, it was stated that the former CEO was accused of perjury and intimidating witnesses. This was instrumental in increasing Bankman-Fried’s sentence and further exacerbated the community’s outcry.
Following the announcement in the New York courtroom, crypto users began sharing their thoughts on social media platforms. Many people stated that the sentence Bankman-Fried received was relatively light, even though longer sentences were received for similar crimes, and that it was not a fair sentence.
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