Sam Bankman-Fried

Effective altruism has fallen on hard times.

The former billionaire was convicted on all seven counts in November.

Attorneys for Bankman-Fried, meanwhile, say he should get no more than six-and-a-half years behind bars for stealing $8 billion from his customers.

The former billionaire’s mom, asking a judge for leniency, said he’s also been unfairly portrayed as a “freak with evil intentions.”

Prosecutors have decided not to proceed.

The news comes just weeks after former crypto billionaire Sam Bankman-Fried was found guilty on separate fraud charges.

Other tech figures are also applauding the jury’s verdict, but Martin Shkreli is... well, doing his own thing.