Sam’s Quarter
…Quarter Century that is: FTX’s criminal founder and CEO was sentenced to 25 years Thursday.
FTX Founder Sam Bankman-Fried Sentenced To 25 Years In Prison For Fraud
FT
Sam Bankman-Fried’s Fate Is Sealed By His Own Words
FT
Ultimately if he can get his head around not sinking his prospects with his own hubris, he has a decent chance of 40-50% remission so presumably if Silicon Valley VCs retain their own bullheadedness about SBF, they will be lining up at the penitentiary door as soon as sometime in 2035.
Some are less enthused than others at what this all means for the crypto economy V1.0. Take for example UK columnist Alex Brummer:
“What is most troubling about Bankman-Fried and the skulduggery uncovered at Binance, resulting in a $4billion (£3.15million) fine for boss Changpeng Zhao, is the lack of discipline it has brought to Wild West crypto markets.” (Don't Expect Sympathy When The Crypto Bubble Bursts - And It Will, Says Alex Brummer | This is Money).
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