Crypto users have responded to Sam Bankman-Fried’s 25-year prison sentence

After 500 days after the failure of the cryptocurrency exchange FTX, users have the answer for the number of years that former CEO Sam “SBF” Bankman-Fried will face in prison: 25.

At a hearing on March 28, Judge Lewis Kaplan sentenced the former FTX CEO to 300 months in prison for misappropriating client funds. Prosecutors proposed up to 50 years in prison for SBF, but defense lawyers asked the judge to be lenient and sentence him to only 6.5 years. The judge added that the former CEO committed perjury and threatened witnesses.

Following the announcement in a New York court, crypto users jumped to social media to voice their opinions. Many have pointed out that 25 years was not enough time after being convicted of seemingly serious crimes.

“[The judge] He was given less than Chelsea Manning (35 years) for a more serious crime,” Edward Snowden said on Xxx after Manning's 2013 conviction for violating the Espionage Act.

While the sentencing guidelines allowed Judge Kaplan to sentence SBF to more than 100 years, many indicated before the hearing that this outcome was unlikely. Several legal experts estimate Banman-Fried will serve between 10 and 30 years, and others suggest it could be an effective defense for figures in the crypto space.

“Judge Kaplan considered all the sentencing factors, including the seriousness of the crime, that SBF lied on the witness stand and tampered with witnesses, and he was given a harsh sentence,” Mark Binney, former U.S. attorney for the Eastern District of New York, told Cointelegraph. “While 40-50 years is less than what prosecutors are asking for, it's a significant sentence and sends a message that people accused of crimes in the crypto space face serious consequences.”

Terence Young, managing director of Swan Bitcoin, told Cointelegraph that “justice has not been served” following the FTX collapse, perjury by the SBF, and the misuse of user funds in the past 25 years.

“The damage caused by SBF was permanent and severe,” Young said. “He destroyed many families and died for his horrible actions and added salt to the deep wounds of his lack of remorse. I understand that ADHD and ADHD families have filed court statements asking for clemency, but SBF is the only person with ADHD in the world who has stolen billions of dollars of customer money and destroyed or harmed millions of lives.

RELATED: What to expect at Sam Bankman-Fried's sentencing hearing

Banman-Fried walked out of court on March 28 and has been held at the Metropolitan Detention Center in Brooklyn since Judge Kaplan revoked his bail in August 2023. Next image in the case of former FTX Digital Markets CEO Ryan Salame, who is likely to be sentenced on May 1. Gary Wang, Caroline Ellison and Nishad Singh — other former executives associated with FTX and Alameda Research — have already pleaded guilty and accepted deals.

Magazine: ‘A Little Shiny' Mashinsky Serves Less Jail Time Than SBF: Inner City Press, X Hall of Flame

Update (March 28, 6:20 p.m. UTC): This article has been updated to include a statement from the US Attorney's Office for the Southern District of New York.