Sam Bankman-Fried sentencing today. Not going well for defense. His Offense is level 60. Max is 43.
Judge Kaplan: For the reasons well articulated by Mr. Ray, that people will be paid back is speculative. So I find the loss amount readily exceeds $550 million, the top tier. I find investors lost $1.7 billion, lenders lost $1.3 billion, and customers, $8 billion
@Kinnison Weird how crypto needs the government’s legal definitions of fraud and theft to deal with something that was supposed to be “anarchic and beyond government control.”
@sfleetucker @Kinnison IMHO it's inherently fraudulent anyway.
#Breaking #news
Sam Bankman-Fried sentanced
Judge Kaplan: It is the judgment of the court that you are sentenced to 240 months then consecutive 60 [etc] for a total of 300 months [25 years]
#crypto #ftx #sbf