Sam Bankman-Fried faces 25 years behind bars, while the fate of four others indicted in the case has largely yet to be determined.
It’s been almost two years since cryptocurrency exchange FTX and trading firm Alameda Research collapsed, resulting in market uncertainty, regulatory crackdowns and criminal charges for those involved.
Former FTX CEO Sam “SBF” Bankman-Fried, who headed the exchange and allegedly pulled the strings behind Alameda, was one of the first executives to face prison time. However, of the five individuals indicted in United States federal court, he was the only one to plead not guilty and have his case heard by a jury in a highly publicized trial.
At the time of publication, Bankman-Fried is likely sitting in a cell at the Metropolitan Detention Center in Brooklyn, facing a 25-year sentence behind bars. A federal judge handed down the sentence on March 28, though SBF’s legal team has filed a notice of appeal for the conviction and sentence. He is expected to remain in New York for the legal proceedings.
