Lawyers are seeking a prison sentence of up to 6.5 years for the founder of the bankrupt crypto exchange FTX, Sam Bankman-Fried.
On the totality of charges, he faces up to 100 years in prison.
According to court documents, the defense is asking to consider his background, education, experience on Wall Street and founding trading companies, and that "he was motivated by more than just greed."
The infamous FTX was one of the leading crypto exchanges 2 years ago before going bankrupt in November 2022 and thereby triggering a crypto market crash. Bankman-Fried is charged with fraud for embezzlement of user funds and is awaiting sentencing, scheduled for March 28.
According to The New York Times, he is now in a detention center in New York, where he often shares investment tips on cryptocurrencies with fellow inmates and guards. In particular, he recommended that they buy the Solana token.
