wall StreetDaily reports, encryptedcurrencySam Bankman-Fried, founder of the FTX platform, was sentenced to 25 years in prison on the 28th for defrauding cryptocurrency investors of 8 billion yuan.

Manhattan Federal District Court Judge Lewis Kaplan said he decided to sentence Bankmanfred to 25 years in prison and a fine of more than $11 billion after considering his egregious behavior, lack of remorse and the likelihood of future crimes. .

Kaplan also said that the “thief” does not deserve a light sentence.

Kaplan said Bankmanfred’s seized assets could be used to help pay off its outstanding debts.

There were more than 200 victims in this case.

Bankmanfred’s parents were also present to hear the verdict.

his father isStanford Universitytax law professor Joseph Bankman, whose mother, Barbara Fried, is a law professor at the same school; Bankman Fried was able to establish an encryption company with a market value of more than 32 billion yuan in less than 30 years. In a monetary empire, the connections, public relations and legal support provided by parents are vital.

Prison consultants say Bankmanfred is unlikely to serve the full 25-year sentence because points such as good behavior in prison could help reduce his sentence by about a third.

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