After telling US District Judge Lewis Kaplan that he was “sorry about what happened,” FTX founder and former CEO Sam Bankman-Fried was sentenced to 25 years in prison for his role in orchestrating a massive crypto exchange scam .
Some of the reasons the judge gave the 32-year-old SBF a fairly stiff sentence – though less than the 110 years he could have served, or the 40-50 years prosecutors were seeking – include SBF’s perjury at his trial. and the judge’s ruling that there was indeed a great deal of economic damage, billions of dollars, to many people.
SBF and its legal team are expected to appeal the sentence.
FTX filed for bankruptcy in November 2022 and Sam Bankman-Fried was arrested in the Bahamas in December 2022 and eventually extradited to the US for trial.