Sam Bankman-Fried Sentenced to 25 Years
The golden boy of crypto is on his way out of the pictureFormer 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. Read More ›
