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Former crypto mogul Sam Bankman-Fried sentenced to 25 years in prison

Sam Bankman-Fried Crypto Lewis Kaplan Prison United States

Sam Bankman-Fried outside the Manhattan federal court in New York City on March 30, 2023 [File: Amanda Perobelli/Reuters]

Former crypto tycoon Sam Bankman-Fried has been sentenced to 25 years in United States federal prison for stealing $8bn from customers of the now-bankrupt FTX cryptocurrency exchange he founded.

US District Judge Lewis Kaplan handed down the sentence at a Manhattan court hearing on Thursday after rejecting Bankman-Fried’s claim that FTX customers did not actually lose money and accusing him of lying during his trial testimony.

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