Crypto Mogul's Shocking Sentence Revealed: You Won't Believe What Happens Next!

Sam Bankman-Fried is awaiting sentencing, scheduled for Thursday, following his conviction four months ago for orchestrating a massive fraud that led to the collapse of the FTX cryptocurrency exchange.

Convicted in November by a federal jury in New York City on two counts of fraud and five counts of conspiracy, Bankman-Fried, 32, has been incarcerated at the Metropolitan Detention Center in Brooklyn since then, after his bail was revoked over witness-tampering allegations. 

Federal prosecutors are seeking a sentence of up to 50 years, though such lengthy sentences are rare, especially for someone with no prior criminal history, according to John Coffee, a professor at Columbia University Law School.

Prosecutors argue that Bankman-Fried displayed a "brazen disrespect for the rule of law" and flouted societal norms, believing himself to be above them. 

They point to his failure to uphold the trust of his customers and his misuse of their funds. 

Despite Bankman-Fried's defense team seeking a sentence of 6½ years or less, citing his mental health struggles and purported selflessness, prosecutors are seeking a severe sentence due to the nature and scale of the fraud.

While the price of bitcoin has rebounded, FTX victims can only recover their assets at the prices observed when the exchange went bankrupt. Bankman-Fried's apparent lack of remorse during the trial may influence the sentence he receives from U.S. 

District Judge Lewis Kaplan, according to Coffee.

Bankman-Fried's sentence will be served without the possibility of parole, and any reduction for good behavior is unlikely to significantly shorten his term, Coffee said.