FTX founder Sam Bankman-Fried was sentenced Thursday to 25 years in prison for fraud tied to the collapse of his digital exchange.
Less than two years ago, Bankman-Fried was the crypto king. He hung around with heads of state, had a $30 million penthouse in the Caribbean and vowed to use his wealth to better humanity.
Last year, a jury found the 32-year-old guilty of stealing billions of dollars from FTX customers and defrauding investors and lenders to his crypto investment firm Alameda Research.
Bankman-Fried, standing with his hands clasped, told the judge before sentencing Thursday that he was haunted every day by what he had thrown away. “I was responsible for FTX, and its collapse is on me,” he said during a 20-minute statement.
Subscribe to the Daily Newsletter
