Sentenced to 25 years in prison Sam Bankman-Fried, the co-founder of the crypto empire FTX, reports CNN. He was found guilty on seven counts of defrauding customers and investors.

Bankman-Freed, also known as the “Crypto King” who masterminded the biggest crypto meltdown in history, received his sentence in a Manhattan federal court from the U.S. District Judge Lewis Kaplan, who presided over Bankman-Freed’s trial last fall.

Before the verdict was announced, he expressed regret for his actions, admitting that he made several “bad decisions” as head of FTX, according to CNN.

Despite attempts by his lawyers to present him in a more positive light, even pointing out that he had trained fellow inmates while in prison, the judge was adamant about his decision. He noted that the defendant had perjured himself and manipulated witnesses. According to Judge Lewis Kaplan, the motive for the crimes committed was a strong desire for influence and power in the country by the crypto kingpin.

Bankman-Freed himself began his career in the financial world as an intern at Jane Street Capital and later co-founded Alameda Research and FTX.

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