BitcoinWarrior

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What does disgraced ‘Crypto King’ Sam Bankman-Fried’s sentence mean for the industry?

Sam Bankman-Fried, the fallen ‘Crypto-King’, as he was once known, was sentenced to 25-years in prison for defrauding customers and investors of his now-bankrupt crypto exchange FTX. Thursday’s ruling shows how the legal system is trying to clamp down on crypto scams. But while the sentencing serves as a warning to the industry, it is uncertain if it will be a watershed moment that cleans up crypto. Bankman-Fried was cherished in the industry and went from having his face on the cover of Fortune magazine in September 2022, as head of the world’s biggest crypto exchange, to being sat in a court…