NEW YORK, March 15 (Reuters) - Sam Bankman-Fried should spend between 40 and 50 years in prison after being convicted for stealing $8 billion from customers of his now-bankrupt FTX cryptocurrency exchange, prosecutors said on Friday. … “Even now Bankman-Fried refuses to admit what he did was wrong,” prosecutors wrote in a sentencing memorandum. “His life in recent years has been one of unmatched greed and hubris; of ambition and rationalization; and courting risk and gambling repeatedly with other people’s money.”

  • xthexder@l.sw0.com
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    8 months ago

    FTX had over a million users, and was advertising publicly on things like the Superbowl. It wasn’t just rich people that lost money on FTX.