Initial image surfaces of Sam Bankman-Fried behind bars.

https://preview.redd.it/2tfh5gfqjojc1.jpg?680&format=pjpg&auto=webp&s=d6f3be706e690306b36ebc08f51838aa2e0c2453

FTX founder Sam Bankman-Fried, convicted of fraud in November 2023, has been photographed in jail at MDC Brooklyn. The sentencing, scheduled for March 28, 2024, could potentially result in a lighter verdict due to FTX's plans to repay customers. District Judge Lewis A. Kaplan will oversee the sentencing, with restitution playing a significant role. Despite the FTX collapse, the cryptocurrency market has rebounded, with Bitcoin hovering around $51,000-$52,000. The defense may argue for a lower loss amount or even $0 if all customers and creditors are reimbursed.