As CZ Gets His Sentence, Michael Lewis Should Rewatch 'Star Wars'

He likened FTX's Sam Bankman-Fried to Luke Skywalker and Binance's Changpeng Zhao to Darth Vader. Federal judges saw it differently.

AccessTimeIconMay 1, 2024 at 2:08 p.m. UTC
Updated May 7, 2024 at 9:48 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Author Michael Lewis tends to take a very charitable stance regarding Sam Bankman-Fried despite his recent conviction, which led to a 25-year prison sentence.

Following publication last year of "Going Infinite," Lewis' book about the FTX founder that many said is over-generous, a Time magazine journalist asked him about criticisms. "This is what happens when you address a mob," he said.

When movie rights for the book were shopped around Hollywood, the pitch letter said, as reported in 2022, that Lewis "likens [SBF and Binance's Changpeng "CZ" Zhao] to the Luke Skywalker and Darth Vader of crypto" – and it wasn't hard to deduce that SBF was, in the "Big Short" author's view, the good guy and CZ the bad guy.

Well, so much for that.

SBF got a quarter century in prison. CZ was just sentenced to four months, and the judge, when explaining why he wasn't harsher on the former Binance CEO, said, "Everything I see about you and your characteristics are of a mitigating nature." Also: "There's no evidence that the defendant was ever informed" of illegal activity at Binance, the judge said.

Contrast that with what a judge told SBF when deciding the length of his prison stay: "The scale of his crimes is measured not just by the amount of money that was stolen, but by the extraordinary harm caused to victims, who in some cases had their life savings wiped out overnight." Also, SBF never offered "a word of remorse for commission of terrible crimes."

Meanwhile, CZ stepped up, according to his judge: "The court finds the defendant has accepted responsibility."

SBF was found guilty of stealing billions of dollars from customers of the FTX cryptocurrency exchange. CZ pleaded guilty to violating the Bank Secrecy Act. Wrongdoing in both cases, but on completely different scales (though Binance did agree to pay a multi-billion-dollar fine.)

Lewis sold a lot of copies of his book, and a movie is apparently being made via Apple. But he might want to watch "Star Wars" to remind himself who's who, if the U.S. legal system is any judge of character, anyway.

Edited by Benjamin Schiller.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Nick Baker

Nick Baker is CoinDesk’s deputy editor-in-chief and a Loeb Award winner. His crypto holdings are below CoinDesk's $1,000 disclosure threshold.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.