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The defendant also was ordered to pay $11 billion, an amount reflective of what Bankman-Fried effectively stole from other parties

Fallen crypto tycoon Bankman-Fried gets 25-year sentence

<h2>The defendant also was ordered to pay $11 billion, an amount reflective of what Bankman-Fried effectively stole from other parties</h2>

Disgraced cryptocurrency wunderkind Sam Bankman-Fried was sentenced to 25 years in jail on Thursday -- a stunning descent for a figure who seemed poised to lead an emerging sector less than two years ago.
US District Judge Lewis Kaplan said the defendant, who became known by his initials "SBF," had shown no "real remorse," even in his final pre-sentencing remarks in which the former billionaire rued "a series of bad decisions" but did not acknowledge knowingly violating financial laws.
Bankman-Fried said "mistakes were made, but never a word of remorse for the commission of a terrible crime," said Kaplan, who characterized the violations as "brazen" and called out the defendant for his "exceptional flexibility" towards the truth.
Kaplan set a sentence of 25 years in prison, followed by three years of supervised release. The defendant also was ordered to pay $11 billion, an amount reflective of what Bankman-Fried effectively stole from other parties, according to Kaplan's calculations.
Thursday's sentencing followed the November 2023 conviction by a federal jury in New York of Bankman-Fried, who once made the cover of financial magazines and financed splashy Super Bowl television ads in 2022.

Bankman-Fried, also known as SBF, stands convicted in one of the largest financial fraud cases in history

Will Sam Bankman-Fried's sentencing affect Bitcoin prices amid crypto fraud allegations?

<h2>Bankman-Fried, also known as SBF, stands convicted in one of the largest financial fraud cases in history</h2>

The scheduled sentencing hearing for Sam Bankman-Fried, set for March 28, is under scrutiny amidst reports of a significant surge in Bitcoin's value, the Financial Times has reported.
The FT reports that the hearing may be affected by a significant increase in the value of Bitcoin. Not only this, Bankman-Fried's lawyers argue that the cryptocurrency's resurgence mitigates financial losses.&nbsp; Crypto fraudster Bankman-Fried faces sentencing Disgraced cryptocurrency wunderkind Sam Bankman-Fried is set to be sentenced Thursday following his conviction in one of the biggest financial fraud cases in history.
US prosecutors are seeking a prison term of 40-50 years after a New York jury found Bankman-Fried, known by his initials SBF, guilty in November following a five-week trial that probed the one-time high roller's spectacular fall.
Calling Bankman-Fried's seven-count conviction reflective of the defendant's "unmatched greed and hubris," the government's sentencing request argues for significant jail time in light of fraud it estimates at more than $10 billion.
Moreover, a lengthy sentence is necessary to "protect the public," argued US Attorney Damian Williams, who characterized Bankman-Fried as an "adept" spin doctor capable of additional malfeasance.

sam bankman fried

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