Sam Bankman-Fried, the former CEO of the collapsed crypto exchange FTX, was sentenced to 25 years in prison on March 28th. Soon after the sentencing in the New York courts, cryptocurrency enthusiasts took to social media to share their opinions.
Many argued that considering the lengthier penalties issued for comparatively minor offenses, 25 years wasn’t enough time. Others suggested a more severe penalty due to Bankman-Fried’s apparent lack of remorse.
“\[The judge\] gave him less than Chelsea Manning (35 years) for a way worse crime,” stated Edward Snowden in a post on X.
Another user by the name of Mandrik also expressed his thoughts, saying:
“No justice in the world”
Judge Kaplan could have sentenced SBF to over 100 years in prison, although many had noted before the trial that such an outcome was unlikely. According to some legal experts, Bankman-Fried could have faced ten to thirty years.
Experts offered differing perspectives. While some saw the sentence as a deterrent for future crypto crimes, others felt it was insufficient.
Bankman-Fried was taken out of court on March 28 and placed in the Metropolitan Detention Center in Brooklyn. The next person in the case who is expected to be sentenced on May 1 is Ryan Salame, the former co-CEO of FTX Digital Markets.
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