NEW YORK (AP) — FTX founder Sam Bankman-Fried has been sentenced to 25 years in prison for a cryptocurrency fraud that a prosecutor has described as one of the biggest financial frauds in U.S. history. Federal Judge Lewis A. Kaplan imposed the sentence Thursday in a packed Manhattan courtroom.
The 32-year-old Bankman-Fried was convicted in November of fraud and conspiracy charges brought after his once-soaring cryptocurrency trading platform and related companies collapsed into bankruptcy. Bankman-Fried was extradited to the U.S. in December 2022, five years after he started his businesses with plans to revolutionize the emerging cryptocurrency industry.