Sam Bankman-Fried sentenced to 25 years in prison for his role in collapse of FTX crypto exchange

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Former billionaire Sam Bankman-Fried was convicted for orchestrating a massive financial fraud that led to downfall of crypto trading platform FTX.

Former cryptocurrency billionaire Sam Bankman-Fried was sentenced Thursday to 25 years behind bars for his role in perpetrating one of the largest financial crimes in U.S. history.Bankman-Fried, 32, was convicted in November of seven counts of fraud, conspiracy and money laundering, along with other charges of conspiracy to commit commodities and securities fraud.

'There is nothing anyone can do about that,' Spektor said.At the sentencing hearing, Bankman-Fried offered an apology to his former FTX colleagues, Reuters reported. 'They put a lot of themselves into it, and I threw that all away. It haunts me everyday,' Bankman-Fried told the judge, adding, 'I'm sorry about that. I'm sorry about what happened at every stage. Things I should have done and said, things I shouldn't have.

 

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