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<p>Federal prosecutors have taken a firm stance on the sentencing of Sam Bankman-Fried, the former cryptocurrency mogul found guilty of fraud and conspiracy.&nbsp;</p>
<p>According to a report by <a href="https://twitter.com/nytimes/status/1768711470131368417" rel="noopener noreferrer nofollow">the New York Times</a>, they are asking for a substantial prison term of 40 to 50 years. &nbsp;</p>
<p>The disgraced crypto boss is facing a possible maximum penalty of 110 years.</p>
<h2 id="the-rise-and-fall-of-a-crypto-empire">The rise and fall of a crypto empire</h2>
<p>The narrative of Sam Bankman-Fried's ascent to the pinnacle of the crypto industry and his subsequent fall has been nothing short of dramatic. As the founder of FTX, Bankman-Fried was at the helm of a $40 billion enterprise until it crumbled.</p>
<p>The conviction, resulting from the jury's decision in November, was for the embezzlement of $8 billion from customers to fund various personal and political interests.&nbsp;</p>
<p>The debacle surrounding <a href="https://u.today/ftx-not-coming-back" rel="noopener noreferrer nofollow">FTX</a> has been a pivotal event in the cryptocurrency domain, but the industry managed to bounce back from this disaster.&nbsp;</p>
<h2 id="a-plea-for-leniency">A plea for leniency</h2>
<p>Against the backdrop of severe sentencing proposals, Bankman-Fried's legal team has mounted an appeal for clemency. His lawyers have cast him as an altruistic individual whose life was dedicated to philanthropy.&nbsp;</p>
<p>Portraying the convicted as a non-violent, first-time offender, the defense has suggested a prison sentence ranging from five and a half to six and a half years.</p>
<p>The defense asserts that customers stand to recover their full investments, mitigating the perceived harm and bolstering their case for a reduced sentence.</p>

Prosecutors Demand 50-Year Jail Sentence for SBF

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