Sam Bankman-Fried, the founder of the FTX cryptocurrency exchange who was convicted of stealing billions of dollars from customers, was sentenced to 25 years in prison on Thursday, capping an extraordinary saga that upended the crypto industry and became a cautionary tale of greed and hubris.
Mr. Bankman-Fried, 32, did not visibly react as Judge Lewis A. Kaplan handed down the sentence in Federal District Court in Manhattan.
His parents, the law professors Joe Bankman and Barbara Fried, sat two rows from the front, staring at the floor.
He knew it was criminal,” Judge Kaplan said of Mr. Bankman-Fried’s actions.
Before the sentence was delivered, Mr. Bankman-Fried, cleanshaven and wearing a loosefitting brown jail uniform, apologized to FTX’s customers, investors and employees.
Persons:
Sam Bankman, Bankman, Lewis A, Kaplan, Joe Bankman, Barbara Fried, ” Judge Kaplan
Organizations:
Court
Locations:
Manhattan