U.S DoJ sentences Sam Bankman-Fried, known as the ‘Crypto King,’ to 25 years in prison for his involvement in orchestrating several fraudulent schemes

Bankman-Fried, who was the founder of the cryptocurrency exchange FTX and the cryptocurrency trading firm Alameda Research, misappropriated billions of dollars of customer funds deposited with FTX, defrauded investors in FTX of more than $1.7 billion, and defrauded lenders to Alameda of more than $1.3 billion…