News

2024-03-29 10:38:48+00:00

US crypto billionaire Bankman-Fried received 25 years in prison

USA (bbabo.net), - Sam Bankman-Fried was sentenced to 25 years in prison for multi-billion dollar fraud on the FTX cryptocurrency exchange. Reuters reports this.

We are talking about the theft of $8 billion from clients of the FTX exchange founded by Bankman-Fried. Thus, the high-profile and scandalous career of the former billionaire prodigy ended.

US Judge Lewis Kaplan delivered the verdict at a hearing in Manhattan, rejecting Bankman-Fried's arguments that FTX clients had not actually lost money. The judge also found that the cryptocurrency activist lied during his testimony at the trial.

bbabo.net recalls that the FTX exchange collapsed in 2022. Economists call her story one of the largest financial frauds in US history.

bbabo.Net

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