Sam Bankman-Fried sentenced to 25 years in prison for FTX fraud
Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, convicted of stealing billions of dollars from customers, was sentenced to 25 years in prison Thursday, capping an extraordinary saga that has rocked the cryptocurrency industry and become a warning about greed and arrogance.Bankman-Fried's sentence was less than the 40 to 50 years that federal prosecutors had sought after a jury found him guilty of fraud, conspiracy and money laundering — charges that carried a maximum sentence of 110 years behind bars . But the sentence was well in excess of the six and a half years requested by his defense lawyers.Mr. Bankman-Fried, 32, did not visibly react when Judge Lewis A. Kaplan handed down the sentence in Federal District Court in Manhattan. His parents, law professors Joe Bankm...