Victims of the collapse of cryptocurrency exchange FTX issued statements for a judge to consider at Sam Bankman-Fried’s sentencing hearing.
Judge Lewis Kaplan could potentially sentence the former FTX CEO to decades in prison on March 28 following his November 2023 conviction.sentencing hearing, describing the emotional and financial impact of the former CEO’s actions and the collapse of the firm.several victim impact statements regarding Bankman-Fried and former FTX and Alameda executives Gary Wang, Caroline Ellison, Nishad Singh and Ryan Salame.
“e entrusted FTX with our hard-earned savings, believing in the integrity of the platform and the digital assets it facilitated,”one unidentified victim. “However, the abrupt downfall of FTX has not only resulted in a substantial financial loss of over $19,000 at current prices but has also shaken the very foundation of our trust in the digital asset space.
“Bankman-Fried’s felonious conduct has caused irreparable harm to hundreds of thousands of BlockFi customers,” said Mohsin Meghji, plan administrator of the BlockFi Wind-Down Debtors, via counsel. “Bankman-Fried’s efforts to pretend they have suffered no harm are insulting and should be rejected.”to 40 to 50 years in prison, while SBF’s lawyers have suggested 6.5 years.
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