Opinion
Bankman-Fried’s jailing a warning shot to crypto industry
The 25-year sentence for the former crypto mogul sends a crucial message to an industry that’s still yet to complete the clean-up it sorely needs.
Lionel LaurentThe sentencing of cryptocurrency wunderkind turned convicted fraudster Sam Bankman-Fried to 25 years in jail along with the forfeiture of more than $US11 billion ($16.8 billion) looks like a fair outcome.
While not as harsh as the request from prosecutors for as much as 50 years, it should stand as a clear deterrent for aspiring fraudsters, both in traditional finance and its decentralised offshoots. And given crypto is still in the midst of a much-needed clean-up, that matters.
Bloomberg Opinion
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