Sam Bankman-Fried made FTX, a place where people trade digital money called cryptocurrency. But now, he’s in big trouble and might go to jail for a very long time. People are watching closely to see what happens next.
His lawyers think he should not be in jail for too long, just over six years, because he is still young and wants to do good things. They say he didn’t mean to cause so much trouble.
But the people trying to prove he did something bad think he should be in jail for a lot longer, between 40 to 50 years. They say he did a lot of harm, and a short time in jail wouldn’t be fair to all the people he hurt.
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- Sam Bankman-Fried, who started FTX, could be in jail for more than 100 years. Soon, we’ll know how long.
- His lawyers say he should get just over six years because he’s young and cares about others. But the people against him want him locked up for 40 to 50 years because he hurt a lot of people.
- The judge, Lewis A. Kaplan, has to decide. Some think he might give Sam 15 years so he can try to do better later.
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FTX’s Sam Bankman-Fried Awaits Sentencing: What’s Coming?
A judge named Lewis A. Kaplan will decide what happens to Sam. A smart person who knows a lot about the law thinks the judge might decide on 15 years. This means Sam will have time later to try to make things right.
There’s also more digging into FTX’s problems by a guy named Robert J. Cleary, who once caught a very bad person called the Unabomber. And there’s some arguing about whether more people should be looking into FTX’s mess.
Whatever the judge decides, it will be a big deal, not just for Sam, but for the world of cryptocurrency too.
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