DOJ Set To Argue That Jailed Crypto King, Sam Bankman-Fried, Belongs Behind Bars

The fallen tycoon, meanwhile, seeks a new trial and argues that his last one was marred by due-process violations.

Drew Angerer/Getty Images
FTX's founder, Sam Bankman-Fried, arrives for trial at Manhattan Federal Court on March 30, 2023. Drew Angerer/Getty Images

The Department of Justice, which secured criminal convictions and a 25-year prison sentence against the crypto mogul Sam Bankman-Fried, has until Friday to make its case for why those verdicts are sturdy enough to stand. 

The government’s push to lock in Bankman-Fried’s prison sentence comes after President Trump’s nominee for chairman of the Securities and Exchange Commission, Paul Atkins, ventured on a podcast last year regarding the mogul’s company: “The collapse of FTX was this international debacle that happened because, I think, the U.S. didn’t make our rules accommodating to this new technology.” The price of cryptocurrencies has surged since Trump’s victory. 

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