Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in prison for defrauding investors and misusing billions in customer funds. The 32-year-old cryptocurrency mogul orchestrated one of the largest financial fraud schemes in U.S. history, secretly funneling FTX customer deposits to his hedge fund Alameda Research to make risky bets and fund his lavish lifestyle. Despite apologizing, Bankman-Fried continued downplaying his criminal actions at sentencing, prompting the judge to condemn his lack of remorse before imposing the 25 year term along with $11 billion in penalties. His saga serves as a stark warning about the dangers of greed and criminal behavior in the loosely regulated crypto world.
FTX Founder Sam Bankman-Fried Sentenced to 25 Years | WSJ
Sam Bankman-Fried sentenced to 25 years for defrauding FTX investors | Yahoo Finance
Bankman-Fried sentenced to 25 years for multi-billion dollar FTX fraud | Reuters
