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Author: Daniel Kuhn, CoinDesk; Compiled by: Tao Zhu, Bitchain Vision
Sam Bankman-Fried demanded no more than 6.5 years in prison for this crime of century.It is also ridiculous that his newly hired defense attorney took advantage of SBF’s autism and vegetarianism and took advantage of the full compensation the victim might receive when he was claiming a mitigation.One’s diet is not a reason for leniency, and more importantly, the FTX legacy is able to recover some (but not all) of the billions of dollars worth of missing assets, not because of SBF’s efforts.
“There are a lot of things we haven’t gotten back, like bribing Chinese officials, or he spends hundreds of millions of dollars on contact or time with celebrities or politicians, or he pays seriously overpriced for these investments with zero due diligence.” FTX CEO John J. Ray III oversees the exchange’s bankruptcy proceedings, he wrote in a March 20 memorandum.”The harm is huge. Regret does not exist.”
However,It is also crazy to sentence SBF to life imprisonment.According to U.S. sentencing guidelines, SBF faces up to 110 years in prison.The Justice Department prosecutor who tried the case sought a sentence of 40 to 50 years in prison for two counts of fraud and five counts of conspiracy for SBF.As Judge Lewis Kaplan said in his 25-year sentence, “it will be unnecessary.”
The public’s perception of the matter (in fact, it does) seems to be divided,Many people say the verdict is too lenient.The SBF needs to serve at least 85% of the 25-year period, which means the 32-year-old can regain freedom in his early 50s.SBF lives up to the trust of investors, customers and employees.Dozens of victim statements tell the shock and financial difficulties he caused and the way he brought countless people’s lives off track.Judge Kaplan also ruled that the SBF attempted to obstruct justice and committed perjury three times.
However, with the announcement of today’s verdict, the cryptocurrency industry may wish SBF all the best.Putting aside the horrible statistics and real life in federal prisons – including five times the number of people per capita in the United States being incarcerated as most other countries, and racial disparities in criminal justice – SBF lost her life due to nonviolent crimes.This may be an unpopular point given the harm SBF has caused to many cryptocurrency holders and the industry as a whole.
There is no point in arguing that SBF is guilty.It doesn’t make sense whether he intentionally deceives the world.There is also no reason to believe SBF’s argument that he can help clients better than the high-paying bankruptcy attorneys currently working on the job.It is obvious that SBF did not attempt to protect or recover the client’s funds until the fraud was revealed.Again, it doesn’t make sense to try to answer the question of whether SBF goes bad for the utilitarian goal of doing the world’s greatest good deeds or starts in this way.
There are few viable precautions for SBF incidents.Dozens of character witnesses who are good for him portray a smart child.SBF’s MotherBarbara Fried wrote,Sam is a “kind angel” who carries the pain of the world in his depressed mind without mentioning his victims.His charity is worthless; it is easy to donate other people’s money.
But it’s strange to hope someone is locked up for decades — never have a chance to atone for another sin or try to do the right thing.Incarceration has several purposes: retaliation for the harm caused by society, deter others from similar crimes, and for public safety reasons.Prosecutors tried to argue that SBF would “very likely” to commit more crimes after his release, so he asked to be held to his 80s.
Prison has another purpose: to change one’s mind.Although SBF’s lawyer Marc Mukasey told the judge that the FTX founder was not a “ruthless financial serial killer” who intended to rob clients, only mind-reading people could say exactly what his intention was.It is obvious that SBF started withdrawing money from client accounts within one year of its establishment on the FTX Futures Exchange and expressed little regret for its crimes.But, as human rights lawyer Clive Stafford Smith said:“Never judge a person based solely on one’s worst behavior.”
Demonization SBF, sometimes called the “face of cryptocurrency,” is actually demonizing the entire cryptocurrency.Cryptocurrency enthusiasts should hope that SBF can reform in time and feel regretful, just as the industry itself should work hard to get rid of fraud.I can’t comment on whether SBF’s effective altruism is sincere, but I want to believe that he has the possibility of kindness, just as cryptocurrency proponents believe that cryptocurrencies can affect the benefits of the world, despite critics.
In short: SBF deserves to continue living after being released from prison.
