Unchained

How 'a Criminal Choice' Got Sam Bankman-Fried a 25-Year Prison Sentence - Ep. 626

Listen Later

Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Sam Bankman-Fried (SBF), FTX's co-founder, was sentenced to 25 years in prison and $11 billion in forfeiture for massive fraud, marking a historic moment in the crypto industry. Judge Lewis Kaplan emphasized the sentence's necessity due to Bankman-Fried's risk-oriented decision-making philosophy known as “expected value” and lack of remorse. 

Sam Enzer joined Unchained to unpack the sentencing, discussing the fairness of the length, explaining how the $11 billion forfeiture would work and how it’s different from the bankruptcy proceedings. Additionally, Enzer provided insights into the kind of prison SBF would end up in and into the three-year supervised release SBF will face after his prison term. The conversation further delved into the broader impact of the sentencing on the crypto industry, suggesting it could signify the end of a dark chapter. 

Show highlights:

  • Whether the 25-year sentence is fair, according to Sam
  • What the $11 billion in forfeiture means for SBF
  • Whether the assets of SBF actually belong to the FTX estate
  • Where SBF will likely go to prison and why Sam believes that SBF will not go to a maximum security prison
  • When the clock starts ticking for the 25-year sentence
  • Why SBF will not be eligible for parole and whether he could get "good time credit"
  • What the defense will attempt in appealing the conviction
  • What types of behavior could get SBF enough credit to appeal for a reduced sentence
  • Why SBF will have to be supervised for three years after his release
  • How SBF’s philosophy about “expected value,” was the theme of the crime, according to Judge Kaplan
  • Whether the co-conspirators, such as Caroline Ellison, will be sentenced and serve in prison
  • Why Sam says that the sentencing represented "the closing of a dark chapter" in crypto


    • Thank you to our sponsors!
    • iTrustCapital
    • Polkadot
      • Guest
      • Sam Enzer, Partner at Cahill Gordon & Reindel
      • Previous appearances on Unchained:
      • Why the SEC’s Case Against Coinbase Is So Significant for Crypto
      • Why SBF’s Testimony So Far Has Likely Already Doomed Him
      • Another Bad Week for Sam Bankman-Fried in His Criminal Trial
      • Why These Lawyers Say It’s Over for SBF-But His Only Hail Mary Is to Testify
      • SBF Trial: How Sam Bankman-Fried’s Lawyers Might Try and Win His Case
      • SBF’s Lawyers Could Be Annoying the Judge How Might That Impact the Trial?
        • Links
        • Unchained: 
        • FTX Founder Sam Bankman-Fried Sentenced to 25 Years for Historic Fraud
        • SBF’s Prison Sentencing Is Coming Up. How Many Years Will He Get?
        • Is Prison Crypto’s New Glow-Up? Post-Incarceration Do Kwon and SBF Are Admired
        • What to Expect from Sam Bankman-Fried’s Sentencing – and the Lessons We Should Learn

          • Learn more about your ad choices. Visit megaphone.fm/adchoices

          ...more
          View all episodesView all episodes
          Download on the App Store
          UnchainedBy Laura Shin
          • 4.6
          • 4.6
          • 4.6
          • 4.6
          • 4.6

          4.6

          1,182 ratings

          More shows like Unchained

          View all
          CoinDesk Podcast Network by CoinDesk

          CoinDesk Podcast Network

          641 Listeners

          The Pomp Podcast by Anthony Pompliano

          The Pomp Podcast

          1,838 Listeners

          The Breakdown by Blockworks

          The Breakdown

          747 Listeners

          On The Brink with Castle Island by Castle Island Ventures

          On The Brink with Castle Island

          288 Listeners

          What Bitcoin Did by Danny Knowles

          What Bitcoin Did

          254 Listeners

          Bankless by Bankless

          Bankless

          1,045 Listeners

          The Wolf Of All Streets by Scott Melker

          The Wolf Of All Streets

          234 Listeners

          Empire by Blockworks

          Empire

          167 Listeners

          Supply Shock by Blockworks

          Supply Shock

          112 Listeners

          Coin Stories by Natalie Brunell

          Coin Stories

          427 Listeners

          Raoul Pal: The Journey Man by Real Vision Podcast Network

          Raoul Pal: The Journey Man

          127 Listeners

          The Milk Road Show by The Milk Road Show

          The Milk Road Show

          40 Listeners

          web3 with a16z crypto by a16z crypto, Robert Hackett, Sonal Chokshi

          web3 with a16z crypto

          62 Listeners

          Bell Curve by Blockworks

          Bell Curve

          33 Listeners

          1000x by Blockworks

          1000x

          5 Listeners