
"Live Coverage: Sam Bankman-Fried's Sentencing for Multibillion-Dollar Crypto Fraud"
Sam Bankman-Fried, former CEO of FTX, is facing a sentencing hearing in Manhattan federal court for his involvement in a multibillion-dollar cryptocurrency fraud. Prosecutors have requested a 40-50 year prison sentence, while his own attorneys have asked for just six years. Bankman-Fried was convicted on seven counts of wire fraud and conspiracy to launder money in November. The collapse of FTX in November 2022 revealed an $8 billion budget shortfall, leading to the downfall of the exchange.












