Sam Bankman-Fried, the founder of crypto exchangeFTX, was sentenced to 25 years in prison for defrauding investors.
Speaking before the sentence, Bankman-Fried said what happened to FTX customers has been excruciating to watch.
But, he said, I dont think the reasons for that have been properly told.
Sam Bankman-FriedAlex Wong/Getty Images
The 31-year-old said he had made a series of bad decisions and thrown his life away.
U.S. Attorney Damian Williams said then it one of the biggest financial frauds in American history.
Much of the money has been recovered.
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Prosecutors had asked for 40-50 years in prison for the 32-year old.
Bankman-Frieds legal team is seeking a maximum of six and half years.
He died in prison.
It was a story that gripped the country.
FTX was based there, having moved from Hong Kong during Covid.
Bankman-Fried gave millions to philanthropic causes and was a top donor to mostly Democratic political campaigns and liberal groups.
