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Sam Bankman-Fried to ”HODL” in Prison for the Next 25 Years

NewsTech

Published:

Sam Bankman-Fried FTX

Comeuppance; justice; restitution. These are the words that can be aptly used to describe today's sentencing of Sam Bankman-Fried (SBF) for perpetrating the biggest financial scam in the US since Bernie Madoff's Ponzi scheme, ripping thousands of customers of the defunct crypto exchange FTX in the process. For the benefit of those who might not be aware, Sam Bankman-Fried, the former CEO of FTX, was essentially running a Ponzi scheme to the benefit of his personal trading arm, Alameda Research. In essence, FTX repeatedly transferred its native FTT tokens to Alameda at dirt-cheap prices while, at the same time, the […]

Read full article at https://wccftech.com/sam-bankman-fried-to-hodl-in-prison-for-the-next-25-years/

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