SBF sentencing live updates: FTX founder faces maximum of 110 years in prison, judge says
CNBCMar 28
Sam Bankman-Fried Sentenced to 25 Years in Prison
The Facts
Sam Bankman-Fried, the disgraced Chief Executive Officer of the now-bankrupt crypto exchange FTX, Thursday was sentenced to 25 years in prison. He was also ordered to repay $11.02B to the victims of the FTX collapse.
In November, Bankman-Fried was found guilty on seven counts of fraud and conspiracy for his role in the collapse of FTX which left customers, investors, and lenders billions short.
The Spin
Establishment-critical narrative
Bankman-Fried is not the villain prosecutors and the media eagerly depict him as. He's a misunderstood genius who created a brilliant company from the ground up. He should be allowed to rectify his mistakes — which did not amount to an intentional criminal act — rather than being sent to prison for an obscenely long time.
Pro-establishment narrative
Bankman-Fried should consider himself lucky his sentence isn't as long as the one he truly deserves. He intentionally and callously defrauded customers and investors of billions and continues to lie while showing no remorse. He'll now have a long time behind bars to reconsider his mistakes.
Nerd narrative
There's a 25% chance that Cryptocurrency Miners will be considered "brokers" by the IRS by 2025, according to the Metaculus prediction community.