UPDATE
Apr 11, 2024 4:25 PM CDT
Sam Bankman-Fried filed a notice of appeal on Thursday, beginning his effort to fight his fraud convictions and the accompanying 25-year prison sentence he received two weeks ago. The case will be heard by a three-judge panel of the 2nd Circuit US Court of Appeals in Manhattan, CNBC reports. The grounds on which the FTX founder's appeal will be argued were not revealed, and the lawyer who filed it did not immediately comment. The case could take years, per the Guardian.
Mar 28, 2024 2:35 PM CDT
The only consolation for Sam Bankman-Fried is that Thursday's sentence of 25 years for defrauding his crypto customers could have been more than four times worse. Judge Lewis Kaplan settled for 25, even though he could have gone up to 110, notes the Verge. A sampling of coverage in the aftermath:
- See you at 51: A post at Decrypt notes that Bankman-Fried is going to federal prison and thus has limited parole options. He will get an automatic 15% reduction because his sentence is more than a year, time that could be added back if he gets into trouble. He might be able to shave off another year or two max with good behavior, meaning that the 32-year-old will likely be behind bars until at least age 51.