Judge Lewis Kaplan from the United States District Court for the Southern District of New York has sentenced Sam “SBF” Bankman-Fried to a cumulative prison term of 25 years after he was found guilty on seven felony charges.

This marks the first instance of someone associated with FTX and Alameda Research, linked to the collapse of the exchange in November 2022, facing incarceration.

Mark Bini, a former assistant U.S. Attorney for the Eastern District of New York, noted that Judge Kaplan considered various factors in sentencing, including the gravity of the offenses, SBF's alleged perjury, and witness tampering, resulting in a substantial prison term.

Although the sentence falls short of the prosecution's request for 40–50 years, it sends a strong message that individuals convicted of crypto-related crimes will face severe repercussions.

Four other individuals implicated in the same case as SBF, namely Gary Wang, Caroline Ellison, Nishad Singh, and Ryan Salame, entered guilty pleas and struck deals. Salame, former co-CEO of FTX Digital Markets, awaits sentencing on May 1 after refraining from testifying during Bankman-Fried’s trial.

Following the court's decision, the crypto community voiced mixed reactions on social media, with some expressing dissatisfaction at the perceived leniency of the 25-year sentence, especially compared to longer terms handed down for lesser offenses.

On a separate note, the financial regulator of the Philippines announced plans to block Binance, the world's largest crypto exchange, due to concerns over its unlicensed operations in the country. The Securities and Exchange Commission (SEC) stated that Binance provides investment services without proper licensing, violating local regulations. The ban will be enforced within three months to allow Filipino investors to divest from their Binance holdings. Additionally, the SEC has requested Google and Meta to restrict Binance-related advertisements targeting Filipino users.

In Portugal, the National Data Protection Commission (CNPD) has temporarily restricted Worldcoin's biometric data collection through its Orb devices. This measure aims to safeguard the rights of citizens, particularly minors, amidst reports of unauthorized data collection.

Furthermore, a U.S. District Judge's decision to dismiss allegations against Coinbase Wallet has been hailed by crypto lawyers as a victory for self-custody wallets and decentralized finance (DeFi) platforms. The judge denied the Securities and Exchange Commission's (SEC) claims, finding insufficient evidence to support allegations of unlicensed activity by Coinbase Wallet.