As we know, Sam Bankman-Fried (SBF) faced the punishment to remain behind bars for 25 years. The majority of the people called 25 years of the period very short against the crime he did with FTX customers but legal experts believe it is a fair punishment.
Sam Bankman-Fried (SBF) is an infamous crypto entrepreneur, who is responsible for the origin of the FTX crypto exchange. Despite the success of the FTX crypto exchange, as the top second-ranked crypto exchange, he misused FTX customers’ money for personal benefits in huge amounts. In Nov 2022, FTX collapsed badly.
Bankman-Fried was sentenced to 25 years by Manhattan Federal Judge Lewis Kaplan. Prosecutors labelled the FTX saga as one of the largest financial frauds in American history.
As per reports, the FTX bankruptcy leaders are in talks with some crypto companies to sell all the FTX’s business, resources, & holding funds to compensate the former FTX customers.
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The majority of the former FTX customers are not happy with the 25 years of jail punishment for SBF, as they think it is a very small period for him.
What do you all think of 25 years for SBF?
Too short?
Too long?
Just right?
Curious to hear your opinions
— Laura Shin (@laurashin) March 28, 2024
To address such questions regarding 25 years of jail imprisonment for SBF, Samson Enzer talked on this matter with the CryptoNews website and explained why this period is enough for him.
Enzer is a Partner at Wall Street Law Firm Cahill Gordon & Reindel LLP.
Enzer explained that despite being below sentencing guidelines, the sentence strikes a balance between deterrence and compassion, considering the defendant’s youth. He also highlights that the sentencing process adhered to legal standards.
Phillip Alexeev, Chief Growth Officer at payment solution provider CrossFi, also shared his opinion and called Bankman-Fried’s sentence fair.
He considered the scale of the crime and comparable sentences for similar financial offences. He suggests that the sentence reflects the number of affected individuals, the value of assets involved, and the broader implications for cryptocurrency regulations.
Overall, both Enzer and Alexeev see the sentence as justifiable, albeit for different reasons, in the context of the case’s complexities and implications.
Read also: New EU rules may ban non-decentralized Defi protocols in 2025
Here is why FTX co-founder SBF’s 25 years of jail sentence fair
https://bitcoinik.com/here-is-why-ftx-co-founder-sbfs-25-years-of-jail-sentence-fair/feed/
https://bitcoinik.com/here-is-why-ftx-co-founder-sbfs-25-years-of-jail-sentence-fair/feed/
