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- Gate July 2025 Transparency Report:
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FTX Founder SBF Will Spend 25 Years in Prison: What Happened in the Case? - Coin Newsletter
Sam Bankman-Fried (SBF), the founder of bankrupt cryptocurrency exchange FTX, has been sentenced to 25 years in prison.
The U.S. District Court for the Southern District of New York announced its final verdict on Sam Bankman-Fried on Thursday, March 28. The court sentenced SBF to 24.5 years in prison on seven counts of fraud and conspiracy. In addition, a fine of 11 billion dollars was imposed.
In a statement in parallel with the sentencing decision, Judge Lewis Kaplan stated that SBF was aware of what was going to happen before the collapse:
According to court documents, the sentence was 15 years below the sentence recommended by prosecutors. Some segments of the cryptocurrency community found the punishment given to SBF, who lost billions of dollars in total to millions of people, to be too low.
Judge Kaplan ordered that SBF be incarcerated in a medium- or low-security prison near the California Bay Area. Additionally, it was noted that SBF's deficiencies in social skills and his association with a large fortune could make him a target for other inmates.