Crypto lawyer John Deaton has forcefully rejected claims that Sam Bankman-Fried’s 25-year sentence is unjust, calling for the reopening of a dismissed campaign finance fraud case tied to the FTX founder.
Deaton’s remarks come after a wave of debate surrounding the severity of Bankman-Fried’s sentence, which some voices within the crypto community consider excessive. The lawyer, known for his advocacy in the crypto space, added his perspective to the discourse, intensifying the conversation about the disgraced FTX founder’s punishment.
A Heated Debate on SBF’s Sentence
In a recent post on X, crypto community member Zach raised questions about the fairness of Bankman-Fried’s lengthy sentence. He noted that FTX customers had been repaid, with interest, and suggested that the exchange’s downfall was not due to bankruptcy but cash flow issues. Zach acknowledged that mixing customer funds with those of Alameda Research was illegal but argued that it might have been the result of poor management, rather than malicious intent. He proposed that Bankman-Fried’s decisions were driven by a misguided sense of altruism rather than greed.
Zach clarified that he was not defending SBF’s innocence but questioned whether a 25-year sentence without parole was proportional to a mistake rather than a calculated crime.
John Deaton’s Strong Response
John Deaton quickly shot down Zach’s argument, stating emphatically that Bankman-Fried deserved every year of his sentence. In a post on X, Deaton also argued that Bankman-Fried’s parents, Joe Bankman and Barbara Fried, should face legal consequences for their involvement. He cited trial evidence, including private communications, that revealed Bankman-Fried’s purported altruism to be a facade.
Deaton also criticized Bankman-Fried’s lack of remorse following the collapse of FTX and pointed to his substantial donations—$10 million—to the Biden administration. Concluding his remarks, Deaton urged Pam Bondi, former Florida Attorney General, to reopen the campaign finance fraud investigation, which had been dismissed due to its involvement with elected officials.
Regulatory Shifts and Possible Leniency
Some industry observers speculate that the Justice Department could play a role in influencing Bankman-Fried’s future, especially as federal prosecutors have recently scaled back their focus on crypto-related cases. While much of the attention has shifted to cryptocurrency-related crimes, other issues have been left to agencies like the US Securities and Exchange Commission (SEC).
Despite recent interviews where Bankman-Fried suggested he could remain imprisoned until his late fifties, Deaton’s call for further charges indicates that leniency is unlikely. However, with shifting political landscapes, such as the recent presidential pardon granted to former BitMEX CEO Arthur Hayes, the possibility of a change in Bankman-Fried’s fate remains open.
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