4 takeaways from Sam Bankman-Fried’s sentencing
CNN
Sam Bankman-Fried on Thursday was sentenced to 25 years in prison, a year and a half after his crypto startup, FTX, imploded practically overnight and set off a massive a federal investigation.
Sam Bankman-Fried on Thursday was sentenced to 25 years in prison, a year and a half after his crypto startup, FTX, imploded practically overnight and set off a massive a federal investigation. The outcome was not a huge surprise — a prison sentence was all but guaranteed after a jury found Bankman-Fried guilty on seven counts of fraud and conspiracy in November. The only unknown going into court this morning was just how long his sentence would be, a decision that was in the hands of Judge Lewis Kaplan. Here are the key takeaways from Thursday’s hearing. Bankman-Fried’s 25-year sentence is about half of the 40 to 50 years prosecutors had sought. Judge Kaplan said he weighed a number of factors, including the brazenness of the crimes and Bankman-Fried’s potential to commit crimes in the future. There was a risk “that this man will be in a position to do something very bad in the future,” Kaplan said. “And it’s not a trivial risk.” Kaplan recommended that the Bureau of Prisons place Bankman-Fried in a medium-security or lower facility, ideally in the San Francisco area so that his family may visit.
The US government on Thursday banned internet service providers (ISPs) from meddling in the speeds their customers receive when browsing the web and downloading files, restoring tough rules rescinded during the Trump administration and setting the stage for a major legal battle with the broadband industry.