“Too lenient” is the common reaction of most people when hearing news about the 25-year prison sentence of Sam Bankman-Fried (SBF).
What does the crypto community think about Sam Bankman-Fried's 25-year prison sentence? Photo: CNN
As Coin68 reported , on the evening of March 28 (Vietnam time) , FTX exchange founder Sam Bankman-Fried was sentenced to 25 years in prison and confiscated more than 11 billion USD in assets in federal court. Manhattan.
Specifically, the jury concluded that the 32-year-old man had committed 7 felony counts of large-scale fraud, conspiring to destroy the FTX exchange and related hedge funds.
From here, one of the largest financial scams in American history officially ended, taking with it the once arrogant empire of the crypto industry.
Although the sentence was significantly lower than federal prosecutors' request for 40-50 years in prison , it was still much higher than the 5-6.5 years proposed by defense attorneys . However, public opinion in the crypto community still has many mixed opinions.
Dan Held, a representative from Asymmetric, said that the penalty "is not severe enough for the consequences he has caused".
Breaking: SBF gets 25 years in prison.
— Dan Held (@danheld)March 28, 2024
Not nearly Longing enough given his actions, feelings around his actions, and actual damage caused.
Jake Chervinsky, Variant Fund's Chief Legal Officer, compared SBF's sentence to Ross Ulbricht's. In May 2015, the boss behind the Silk Road smuggling ring of drugs and banned items received two life sentences, plus 40 years in prison without parole for the "Silk Road" he created. .
If you're following all the news about SBF today, take a moment to reflect on Ross Ulbricht.
— Jake Chervinsky (@jchervinsky) March 28, 2024
SBF got 25 years. That's a Longing time, but he'll get out and have a life leaving afterwards. @RealRossU got two life sentences, plus 40 years.
This is not justice. https://t.co/nOnKQFkctx
Sharing the same opinion, Nic Carter of Castle Island Ventures commented:
"I just feel so much pain and sympathy for Ross Ulbricht."
I just feel extremely pain and sympathy for Ross Ulbricht
— nic 🌠 carter (@nic__carter) March 28, 2024
Meanwhile, Edward Snowden was surprised to see that Bankman-Fried was given more leniency than Chelsea Manning, a veteran considered a "criminal of the US government" for transferring confidential military and diplomatic documents to WikiLeaks.
"Damn, SBF's sentence is less than Chelsea Manning's (35 years), when he committed a more serious crime." - Edward spoke up indignantly.
Seraphim Czecker, head of growth at Ethena Labs , expressed his opinion:
"SBF defrauded the world but only received a 25-year sentence, while Tornado developer Cash Pertsev faced a 5-year prison term, which is unfair?"
Doesn't it drive you mad
— Seraphim (@MacroMate8) March 28, 2024
SBF defrauds the whole world and gets 25 (will probs get out early)
Pertsev on trial for writing a smart contract and is treated the same way or worse
However, the sentence imposed on Sam Bankman-Fried is a “happy ending” for this chapter of the cryptocurrency industry. And either way, this is a necessary lesson, and the crypto industry will still move forward.
Coin68 compiled
Join the discussion on the hottest issues of the DeFi market in the chat group Fomo Sapiens Let's join Coin68 admins!!!
