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Welcome to HODL.FM, where we pack crypto insights into a spotlight to show you the way in the darkest of times.Here is what has happened :<ul><li>SBF’s 300-month incarceration;</li><li>The tailwind of the proceedings;</li><li>The defense says SBF intended no harm.</li></ul><h2 id="header-0">Sam Bankman-Fried’s Sentence</h2>In a courtroom packed to the brim, Judge Lewis A. Kaplan <a href="https://hodl.fm/ftx-ceo-sbf-fraud-conviction" rel="noopener noreferrer nofollow">sentenced the Former CEO of FTX exchange</a> Sam Bankman-Fried to 25 years of jail time for counts of fraud and conspiracy. For a man who committed one of history’s largest financial crimes, the prosecutors were advocating for a 50-year sentence. The federal judge, however, prescribed a lesser sentence but one far more heinous than what the defense had requested.https://twitter.com/CollinRugg/status/1773380244436869498A lot could happen in 25 years but SBF will miss them all when he walks out of prison at 57. Thanks to the internet, he might have a picture of how the world looks when he walks out. It won’t get worse like the banker, Andy Dufresne in The Shawshank Redemption who arrives  in prison at 30 and walks out at 57 only to meet a world that got itself in a ‘big damn hurry’.<img src="https://hodl.fm/wp-files/2024/03/bL6a9xSlV47G2vZC-PnQDpP6q1KH_dZQzWlMDdER_1rayEKKjuaa6IFXqpGcy6_ze08rntLkDnPw7kH_vZH0f4GcDWAKoqsUvwMgxGLAUtPcsEM0M2cJx6iWO0mj8hqMsPle_Y5eCmfXXa1FDCL14Po.gif" />Kaplan highlighted that FTX customers had an $8 billion shortfall, while investors and lenders lost $1.7 billion and $1.3 billion respectively. According to the judge, Sam Bankman failed to demonstrate responsibility for the disaster he caused.<h2 id="header-1">READ MORE ON <a href="https://hodl.fm/sbf-sentencing-impact-crypto" rel="noopener noreferrer nofollow">HODL.FM</a></h2>

Judge Convicts Former FTX CEO Sam Bankman-Fried to 25 years in Multi-billion Fraud Case

Judge Convicts Former FTX CEO Sam Bankman-Fried to 25 years in Multi-billion Fraud Case

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