Disgraced former crypto billionaire Sam Bankman Fried is serving a 25-year sentence in New York City’s Metropolitan Detention Center. He’s learning about such things as sports gambling and a drug called “deuce,” and he badly misses his teddy bear Manfred.
Though the judge said he’d “never seen” a cooperator as strong as Ellison, she was “not inviolable” and Bankman-Fried had her “Kryptonite,”
Prosecutors initially recommended a 40- to 50-year prison sentence for Bankman-Fried.
Sam Bankman-Fried, the convicted FTX founder, apologized to his former customers in a federal court on Thursday, saying his “useful life is probably over.”
Bankman-Fried’s favored cryptocurrency has nearly doubled in recent weeks. Along with gains in bitcoin and other assets, the crippled exchange now seems to have sufficient funds to meet small-investor claims.
Sam Bankman-Fried is an albatross around the neck of blockchain entrepreneurs – and that’s a problem.
How Sam Bankman-Fried’s possible 110 year sentence stacks up against other ex-billionaires and billionaires who’ve served time.
White-collar defendants often get far less than the maximum sentence—but legal experts told Forbes they expect Sam Bankman-Fried to face decades in prison.
FTX founder will take the stand in an attempt to refute allegations by his former lieutenants that he knew he was running a scam. If he fails, he could be in for a century-long prison term.
Caroline Ellison, the former CEO of FTX’s sister hedge fund Alameda Research, said her former colleague and love interest Bankman-Fried had high political ambitions.