FTX founder Sam Bankman-Fried will be sentenced this week on federal fraud charges stemming from the collapse of his crypto empire.
, the former crypto king found guilty last year of orchestrating one of the biggest frauds in U.S. history, will bebillionaire should spend the next 40 to 50 years behind bars for a crime that had more than a million victims, losses totaling up to $10 billion, and led to the stunning collapse of his
Bankman-Fried’s defense team has pushed back on the claim, arguing such a long sentence “distorts reality” and paints him not as the inexperienced businessman as he claims but as a “depraved super-villain.” It’s an argument Bankman-Fried’s FTX successor, John Ray, pushed back on in a victim impact statement filed with the federal court.
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