Sam Bankman-Fried Sentenced to 25 Years in Prison
A jury previously found Sam Bankman-Fried guilty of fraud and money laundering.
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A jury previously found Sam Bankman-Fried guilty of fraud and money laundering.
FTX co-founder Sam Bankman-Fried was sentenced to 25 years in prison. The decision sets the tone for others accused of crimes involving digital assets, including former Celsius Network Ltd. Chief Executive Officer Alex Mashinsky, Terraform Labs Pte co-founder Do Kwon and Binance Holdings Ltd. founder Changpeng Zhao.
Sam Bankman-Fried has been handed his prison sentence for defrauding crypto investors nearly $8 billion. Here's how long he will spend behind bars.
Legacy media outlets the Department of Justice neglected to mention that Sam Bankman-Fried was a top donor to Democratic-aligned causes in their releases.
In the introduction to this Firebreak series on how foundations fund activists, I noted there were a wide variety of foundations: from generous endowments to publicly funded humanitarian organizations to donor-advised money mills. Many do due diligence and cooperate with their recipients to ensure that the funds are well used. The money mills, though, just take money from a secret donor or interest group, wash it clean of any fingerprints, and, according to the advice of the donor, pass it on to the targeted recipient (minus a hefty laundering fee for the fund manager).