Sam Bankman-Fried, co-founder of the failed crypto exchange FTX, has been sentenced to 25 years in prison for defrauding customers and investors of his now-bankrupt firm.
The ruling cements the downfall of the former billionaire, who emerged as a high profile champion of crypto before his firm’s dramatic collapse in 2022.
He was found to have stolen billions from customers ahead of the failure.
The 32-year-old said in court he knew “a lot of people feel really let down”.
“I’m sorry about that. I’m sorry about what happened at every stage,” he said, speaking quietly and clearly ahead of his sentencing.
Credit: http://bbc.com
