Technology

58011 readers

4439 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

[email protected]

268

Sam Bankman-Fried deserves 40-50 years in prison for FTX fraud, prosecutors say (www.reuters.com)

submitted 6 months ago by [email protected] to c/[email protected]

13 comments fedilink hide all child comments

NEW YORK, March 15 (Reuters) - Sam Bankman-Fried should spend between 40 and 50 years in prison after being convicted for stealing $8 billion from customers of his now-bankrupt FTX cryptocurrency exchange, prosecutors said on Friday. ... "Even now Bankman-Fried refuses to admit what he did was wrong," prosecutors wrote in a sentencing memorandum. "His life in recent years has been one of unmatched greed and hubris; of ambition and rationalization; and courting risk and gambling repeatedly with other people's money."

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 31 points 6 months ago

FTX had over a million users, and was advertising publicly on things like the Superbowl. It wasn't just rich people that lost money on FTX.