Sam Bankman-Fried’s 25-year sentence sparks response from crypto users.

Former FTX CEO Sam “SBF” Bankman-Fried has been sentenced to 25 years in prison for misusing customer funds following the collapse of the cryptocurrency exchange. The sentencing, which took place on March 28, was delivered by Judge Lewis Kaplan, who noted that Bankman-Fried had committed perjury and intimidated witnesses. Prosecutors had initially suggested a prison term of up to 50 years, while the defense requested a maximum of 6.5 years. The decision has sparked debate among crypto users, with some arguing that the sentence is too lenient compared to others for similar crimes. However, legal experts believe that the sentence sends a strong message about the serious consequences of criminal activity in the crypto space. Bankman-Fried’s co-CEO, Ryan Salame, is due to face sentencing on May 1, while other former executives associated with FTX and Alameda Research have already pleaded guilty. Bankman-Fried has been in detention since his bail was revoked in August 2023.