NATIONAL NEWS – FTX founder Sam Bankman-Fried sentenced to 25 years in prison for crypto fraud

Mariah Cain, Staff Writer

FTX founder Sam Bankman-Fried was sentenced to 25 years in prison Thursday for massive fraud and conspiracy. FTX was once valued at $32 billion prior to Bankman-Fried’s fraud. He aplogized to his former colleagues, “I’m sorry about what happened at every stage. Things I should have done and said. Things I shouldn’t have.” 

Before the sentencing Judge Lewis Kaplan said, “There is a risk that this man will be in position to do something very bad in the future.” He continued, “And it’s not a trivial risk at all.”