Sam Bankman-Fried's (SBF) legal team has launched a vigorous defense against the U.S. Department of Justice's (DOJ) recommendation for a 40 to 50-year prison sentence for the FTX founder, arguing that such a punishment is excessively harsh and does not accurately reflect the severity of his alleged crimes. The defense described the proposed sentence as "medieval" and more suited for a "super villain," highlighting their request for a downward variance from the suggested 63 months. In a recent filing, they listed potential outreach efforts to save FTX, involving entities like Justin Sun, despite his own legal challenges with the SEC, and companies such as Silverlake and Mubadala. Meanwhile, the FTX bankruptcy proceedings have revealed significant financial turmoil, with the exchange's coffers found nearly empty, holding only 105 bitcoins against the nearly 100,000 bitcoins owed to customers. Current CEO John J. Ray III criticized the management under SBF, indicating that victims of the FTX collapse would "never" be fully compensated for their losses. Additionally, the FTX estate is facing an estimated $3 to $5 billion in U.S. government claims amid the bankruptcy, with a court filing indicating no funds left for shareholders. Allegations have also emerged against the bankruptcy law firm Sullivan & Cromwell LLP for potential conflicts of interest and ethical breaches.