Sam Bankman-Fried Sentenced

FTX founder Sam Bankman-Fried was sentenced to 25 years in federal prison in March 2024 after being convicted on seven counts of fraud and conspiracy. The $8 billion FTX collapse he orchestrated wiped out over 1 million customers, triggered the 2022 crypto winter, and resulted in the largest financial fraud prosecution in crypto history, surpassing the prison term for Bernie Madoff by 10 years and involving 40% more victim accounts than the average crypto fraud case.