☕ US prosecutors recommend 40-50 year prison sentence and $11 billion fine for Sam Bankman-Fried
Notes:
- The 40-50 year sentence is a very high sentence for a cryptocurrency-related crime.
- Sam Bankman-Fried can appeal the verdict.
- This case is being closely watched by the cryptocurrency community.
Additional information:
- The sentence was recommended by prosecutors in the Southern District of New York.
- Bankman-Fried was convicted of eight counts of fraud and conspiracy in December 2023.
- The charges stemmed from the collapse of the FTX cryptocurrency exchange, which Bankman-Fried founded and led.
- The $11 billion fine is the largest ever sought by the US government in a cryptocurrency case.Bankman-Fried is scheduled to be sentenced on March 28, 2024.
