💥Sam Bankman-Fried (SBF) Sentenced to 25 Years in Prison for FTX Fraud!

In a big courtroom decision, Sam Bankman-Fried, the creator of the cryptocurrency exchange FTX, has been given a 25-year prison term for cheating users. The judgment came from US District Judge Lewis Kaplan in a federal courtroom in Lower Manhattan.

Judge Kaplan was tough on the defense’s arguments, calling them "misleading, illogical, and speculative." He highlighted Bankman-Fried’s efforts to block justice and tamper with witnesses during the trial, which influenced the sentencing.

Bankman-Fried expressed regret, admitting that his selfish choices as FTX's leader caused the exchange to fail. He admitted to ruining everything and said he's haunted by remorse every day.

Prosecutors wanted a 50-year sentence, while Bankman-Fried’s lawyers argued for a maximum of 6 years. He was found guilty of seven charges in November and has been in custody at the Metropolitan Detention Center in Brooklyn since then.

Prosecutors shared victim testimonies on Tuesday, revealing how Bankman-Fried's actions wrecked lives. One victim described losing everything and the emotional pain inflicted on their family. They had trusted FTX with their money but didn’t agree to Bankman-Fried's risky moves. The victim talked about the depression and suicidal thoughts caused by the suffering.

During the trial, it was revealed that Bankman-Fried had taken about $8 billion from FTX users. He allegedly used this money for political projects, risky investments, and to fund the lavish lifestyles of FTX executives.

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