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Sam Bankman-Fried is going to jail (arstechnica.com)

submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world

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Sam Bankman-Fried is going to jail::Judge also denied SBF's request to delay jail time.

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[–] whats_a_refoogee@sh.itjust.works 12 points 1 year ago (1 children)

He didn't defraud the rich lol. The exchange was one of the most popular among cryptocurrency users. There are no minimum and no sign up fees. The number of people he defrauded is probably in the millions.

If anything, knowing crypto, the rich almost certainly had insider knowledge and withdrew their funds before everything collapsed.

[–] zik@aussie.zone 1 points 1 year ago

Big investors into his company got burned too.