Former cryptocurrency mogul Sam Bankman-Fried, who was convicted of financial fraud in late 2022, was sentenced to 25 years of prison last week. Bankman-Fried was convicted of defrauding investors and delegating monies to fund his own lavish lifestyle and to try and square away the debts of his hedge fund, Alameda Research. The scandal amounts to one of the largest in financial history, with some 11 billion dollars worth of assets lost.

Bankman-Fried was once an up-and-coming favorite in the tech world. He donated millions to political campaigns, shot trailers with celebrities promoting his crypto exchange, FTX, and seemed to present to the world nothing short of the next generation’s spitting image of success. However, it all came crumbling down.

It is unlikely that the disgraced mogul will serve his entire term, but in any case, he will be out of action for the foreseeable future. He was also ordered to restore the lost assets to investors alongside the sentencing. Bankman-Fried’s lawyers were asking for six years maximum for their client. Until the very end, Bankman-Fried denied that he had done anything wrong, although he said he hurt those closest to him.