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## Former Cryptocurrency Billionaire Sentenced to 25 Years in Prison
Former cryptocurrency billionaire Sam Bankman-Fried was sentenced Thursday to 25 years behind bars for his role in perpetrating one of the largest financial crimes in U.S. history. Bankman-Fried, 32, was convicted in November of seven counts of fraud, conspiracy, and money laundering, along with other charges of conspiracy to commit commodities and securities fraud.

### The Conviction and Sentencing
Bankman-Fried faced up to 110 years under federal sentencing guidelines, but prosecutors had called for Judge Lewis Kaplan to sentence Bankman-Fried to between 40 and 50 years in prison for what they described as a “historic fraud.” Bankman-Fried’s attorneys had argued for a sentence of no more than six and a half years, saying he was unlikely to reoffend.

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#### Judge’s Ruling
At the hearing Thursday, Kaplan said the 25-year sentence reflected “that there is a risk that this man will be in position to do something very bad in the future. And it’s not a trivial risk at all.” The judge added that it was “for the purpose of disabling him to the extent that can appropriately be done for a significant period of time.”

### U.S. Attorney’s Statement
Damian Williams, U.S. Attorney for the Southern District of New York, said that the sentence sends “an important message to others who might be tempted to engage in financial crimes that justice will be swift, and the consequences will be severe.”

### Apology and Appeal
At the sentencing hearing, Bankman-Fried apologized to his former FTX colleagues and expressed remorse for his actions. While he is expected to appeal his conviction, former federal prosecutor Andrey Spektor mentioned slim chances of the verdict being overturned.

### Impact of the Sentence
Some legal experts thought Bankman-Fried’s education and professional connections would bring a measure of leniency, while others expected a harsher sentence. The comparison was made to disgraced entrepreneur Elizabeth Holmes’ prison term, indicating SBF’s doubled sentence in comparison.

### The FTX Collapse
Bankman-Fried’s conviction followed the startling 2022 collapse of FTX, the cryptocurrency trading platform he had co-founded. He was accused of misusing depositor money and engaging in fraudulent activities, ultimately leading to the platform’s downfall.

#### Prosecutors’ Allegations
Prosecutors detailed Bankman-Fried’s use of customer funds to prop up his hedge fund, purchase luxury properties, and support various causes, all while facing an $8 billion shortfall in funds.

#### Testimonies and Allegations
Former associates, including Bankman-Fried’s romantic partner, testified against him, alleging pressure to commit fraud. The collapse of cryptocurrency prices in 2022 further exacerbated FTX’s situation and the ensuing legal actions against Bankman-Fried and his associates.

Finally, the Associated Press contributed to this detailed report on Bankman-Fried’s conviction and sentencing.

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