• Protection attorneys say Sam Bankman Freed had no malice in thoughts.
• SBF was discovered responsible and sentenced to 25 years in jail.
• Cryptocurrency entrepreneurs sit up for seeing their prospects reap the rewards.

Sam Bankman Freed, also called SBF within the digital property subject, was sentenced to 25 years in jail, together with his lawyer Mark Mukasey telling the court docket that the disgraced crypto entrepreneur had been “misinformed”. He mentioned the assault was not motivated by looting. Or malice.

In keeping with the speech Posted In keeping with Inside Metropolis Press on social media platform , “I made the choice mathematically in my head, not maliciously in my coronary heart.'' ” whereas including,

“He's a nasty math geek. He's into veganism. He has a rare mind. He's a fantastic puzzler. He can parse phrases higher than a Talmudic scholar. He's a cloth He was a billionaire who didn't care about his private possessions.”

lawyer Stated “He's misunderstood,” mentioned SBF's mom, Barbara Freed, however added that folks have a tendency to consider him as “an outdated story of a grasping con man.” However she mentioned SBF by no means “ran with the cash” and “saved going till the tip.”

Mukasey additional added that Bankman Freed by no means “wished to be the king of cryptocurrencies” and solely aimed to have a constructive influence on the world.

“On the finish of the day, it looks as if the shopper is in the end going to obtain the present worth of the asset. That goes for lenders and traders as nicely. I want I might have achieved extra to assist with that, however I feel it was a failure. I feel so. I don't know why, however I do assume it occurred,” Bankman Fried mentioned.

In the meantime, the FTX change has been promoting off its holdings over the previous few months to repay collectors and prospects.