{"id":600243,"date":"2024-03-28T16:14:42","date_gmt":"2024-03-28T16:14:42","guid":{"rendered":"https:\/\/ktsl888.com\/?p=600243"},"modified":"2024-06-11T08:07:59","modified_gmt":"2024-06-11T08:07:59","slug":"breaking-sam-bankman-fried-sentenced-to-25-years-in-prison","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/breaking-sam-bankman-fried-sentenced-to-25-years-in-prison\/","title":{"rendered":"BREAKING: Sam Bankman-Fried Sentenced To 25 Years In Prison"},"content":{"rendered":"

In a highly anticipated courtroom verdict, Sam Bankman-Fried, the founder of the collapsed cryptocurrency exchange FTX, has been <\/span>sentenced <\/span><\/a>to 25 years in prison for defrauding users. US District Judge Lewis Kaplan delivered the judgment during a Lower Manhattan federal courtroom hearing.<\/span><\/p>\n

Related Reading: The Bulls Are Back: Spot Bitcoin Inflows Surge With New Records<\/a><\/div>\n

FTX Founder Sam Bankman-Fried Sentenced<\/span><\/h2>\n

Judge Kaplan sternly criticized the defense’s argument, labeling it as \u201cmisleading, logically flawed, and speculative.\u201d As <\/span>reported <\/span><\/a>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.<\/span><\/p>\n

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.<\/span><\/p>\n

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.<\/span><\/p>\n

Life Plans Shattered<\/span><\/h2>\n

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.\u00a0<\/span><\/p>\n

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.<\/span><\/p>\n

Related Reading: Fantom: Market Slowdown Chops Off 10% From Gains \u2013 Here\u2019s Why<\/a><\/div>\n

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.<\/span><\/p>\n

\"Sam
The daily chart shows the price of FTX’s native token, FTT, trending down. Source: FTTUSD on TradingView.com<\/a><\/figcaption><\/figure>\n

Featured image from Shutterstock, chart from TradingView.com\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

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 \u201cmisleading, logically flawed, and speculative.\u201d 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.\u00a0 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 \u2013 Here\u2019s 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\u00a0<\/p>\n","protected":false},"author":589,"featured_media":600245,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[6664,1558,54512,87394,90344,86846,85702,87576,86845,71704,88521,87577,89526,83748,89527,89273,89285],"class_list":["post-600243","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-cryptocurrency","tag-defi","tag-ftt","tag-ftt-news","tag-ftt-price","tag-ftt-token","tag-fttusd","tag-fttusdt","tag-ftx","tag-ftx-bankrupt","tag-ftx-crash","tag-ftx-sam-bankman-fried","tag-sam-bankman-fried","tag-sam-bankman-fried-ftx","tag-sam-bankman-fried-news","tag-sam-bankman-fried-trial"],"acf":[],"yoast_head":"\nBREAKING: Sam Bankman-Fried Sentenced To 25 Years In Prison<\/title>\n<meta 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Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision. Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities. Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth. However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape. Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge. With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.","sameAs":["https:\/\/instagram.com\/itsmarquez_fr?igshid=ZDdkNTZiNTM=","https:\/\/x.com\/Rmmcapital"],"url":"https:\/\/ktsl888.com\/author\/ronaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"BREAKING: Sam Bankman-Fried Sentenced To 25 Years In Prison","url":"http:\/\/ktsl888.com\/news\/breaking-sam-bankman-fried-sentenced-to-25-years-in-prison\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/breaking-sam-bankman-fried-sentenced-to-25-years-in-prison\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/shutterstock_download-76.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/shutterstock_download-76.jpg?fit=462%2C260"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Ronaldo Marquez"}],"creator":["Ronaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["crypto","cryptocurrency","defi","ftt","ftt news","ftt price","ftt token","fttusd","fttusdt","ftx","ftx bankrupt","ftx crash","ftx sam bankman-fried","sam bankman-fried","sam bankman-fried ftx","sam bankman-fried news","sam bankman-fried trial"],"dateCreated":"2024-03-28T16:14:42Z","datePublished":"2024-03-28T16:14:42Z","dateModified":"2024-06-11T08:07:59Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"BREAKING: Sam Bankman-Fried Sentenced To 25 Years In Prison\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/breaking-sam-bankman-fried-sentenced-to-25-years-in-prison\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/breaking-sam-bankman-fried-sentenced-to-25-years-in-prison\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/shutterstock_download-76.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/shutterstock_download-76.jpg?fit=462%2C260\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Ronaldo Marquez\"}],\"creator\":[\"Ronaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"crypto\",\"cryptocurrency\",\"defi\",\"ftt\",\"ftt news\",\"ftt price\",\"ftt token\",\"fttusd\",\"fttusdt\",\"ftx\",\"ftx bankrupt\",\"ftx crash\",\"ftx sam bankman-fried\",\"sam bankman-fried\",\"sam bankman-fried ftx\",\"sam bankman-fried news\",\"sam bankman-fried trial\"],\"dateCreated\":\"2024-03-28T16:14:42Z\",\"datePublished\":\"2024-03-28T16:14:42Z\",\"dateModified\":\"2024-06-11T08:07:59Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/shutterstock_download-76.jpg?fit=462%2C260","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/600243"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/589"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=600243"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/600243\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/600245"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=600243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=600243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=600243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}