A quarter of a century behind bars 👨⚖️ The final decision has been made. Sam Bankman-Fried (SBF), the founder of the now-defunct exchange FTX, will be sentenced to slightly more than 24 years in prison. Besides handing the sentence, Judge Kaplan, who oversaw the trial, also ordered SBF to repay up to $11B to creditors. Even though SBF's defense lawyers tried their best to frame their client as just a boy genius who was led astray, Judge Kaplan did not see it that way. In fact, he highlighted several instances of perjury committed by SBF during his trial, citing that 'he (SBF) knew it was wrong, he knew it was criminal,'
A key witness, Nishad Singh, the Director of Engineering at FTX and its third-largest shareholder, also took the stand against his former boss.
While the conclusion of this trial may have been a tragic end for SBF, crypto degenerates quickly used it as a narrative for memecoins.
Sam Baseman Fraud, a memecoin on Base, surged by over 233x after the sentence was announced but quickly plunged by 85% over the next few hours.
Editor's Take: Although the prison term he got was 15 years less than what the prosecution recommended, there should at least be some sense of justice and closure for his victims. While the story of SBF is done for now, there's still plenty more to do for FTX's liquidators to make the exchange's creditors whole. | 
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