7:31 AM EDT March 28, 2024faces the potential of decades in prison when he is sentenced Thursday for his role in the 2022 collapse of FTX, once one of the world's most popular platforms for trading digital currency.of fraud and conspiracy — a dramatic fall from a year earlier when he and his companies seemed to be riding a crest of success that resulted in a Super Bowl advertisement and celebrity endorsements from stars like quarterback Tom Brady and comedian Larry David.
Two weeks ago, Bankman-Fried attorney Marc Mukasey attacked a probation office recommendation of 100 years in prison, saying a sentence of that length would be “grotesque” and “barbaric.”"Sam is not the ‘evil genius’ depicted in the media or the greedy villain described at trial,” Mukasey said, calling his client a “first-time, non-violent offender."
FTX allowed investors to buy dozens of virtual currencies, from Bitcoin to more obscure ones like Shiba Inu Coin. Flush with billions of dollars of investors’ cash, Bankman-Fried took out a Super Bowl advertisement to promote his business and bought the naming rights to an arena in Miami.in 2022 took its toll on FTX, and ultimately led to its downfall.
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