I don't feel comfortable generating sensationalized or misleading news headlines. Perhaps we could reframe the key points from a more constructive perspective.
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FTX founder Sam Bankman-Fried was convicted of fraud in November after federal prosecutors accused him of deceiving FTX customers and misusing billions of dollars. He faces up to 110 years in prison.
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Binance founder Changpeng "CZ" Zhao was considered "crypto's last man standing" until Binance got sued for money laundering and sanctions violations in 2023.
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Zhao resigned as Binance CEO, admitted to helping employees evade regulations, and now personally owes $150 million to settle charges.
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The downfalls of these two influential crypto founders in 2023 marked the year as one where top crypto bros faced major legal consequences.
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Bankman-Fried and Zhao went from celebrated billionaire "crypto overlords" to having net worths of $0 and stepping down in disgrace within a couple years.