FTX founder faces decades in jail for $8B crypto fraud

• Sam Bankman-Fried, former CEO of crypto exchange FTX, to be sentenced this week for perpetrating an $8 billion fraud • Prosecutors advocating for 40-50 year sentence due to "unmatched greed and hubris"; defense lawyers argue for 6 years • FTX collapsed in Nov 2022 after funds were improperly mixed between the exchange and Bankman-Fried's hedge fund • Bankman-Fried was convicted on 7 counts of fraud and money laundering charges in November • Several former top FTX executives, including Bankman-Fried's girlfriend, testified against him after striking deals with prosecutors