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Sam Bankman-Fried's 25-year jail sentence is a warning to crypto
The sentencing of cryptocurrency wunderkind turned convicted fraudster Sam Bankman-Fried to 25 years in jail along with the forfeiture of more than US$11 billion looks like a fair outcome. While not as harsh as the request from prosecutors for as much as 50 years, it should stand as a clear deterrent for aspiring fraudsters both in traditional finance and its decentralised offshoots. And given crypto is still in the midst of a much-needed clean-up, that matters. To recap, the 32-year-old Bankman-Fried was convicted of fraud, conspiracy and several other offences last year after the spectacular collapse of his crypto ... (full story)