Sam Bankman-Fried Sentenced to 25 Years in Prison, Expresses Regret in Recent Interview
Sam Bankman-Fried, the founder and former CEO of the now-defunct cryptocurrency exchange platform FTX, has been given a 25-year prison sentence for fraud. The judgment, delivered by U.S. District Judge Lewis Kaplan, was accompanied by comments from the judge regarding SBF’s initial lack of remorse.
“I never thought what I was doing was illegal.”
Sam Bankman-Fried
The Reflection of SBF During His Detention
In an interview with ABC News from the Metropolitan Detention Center in Brooklyn, SBF shared his thoughts, expressing remorse for his actions for the first time. He admitted that the realization of his illegal acts and their consequences on his clients has been a source of daily reflection.
“It’s the majority of what I think about every day,” said Sam Bankman-Fried, adding that he never considered that his actions could be illegal but acknowledging that he did not meet the ethical standards he had set for himself.
The Collapse of FTX and What Lies Ahead for SBF
SBF attributed FTX’s insolvency to a series of “bad decisions” made in 2022, emphasizing that “the clients could and should have been reimbursed that year.” The former CEO of FTX described the waiting period for clients to be refunded as “unbearable,” expressing deep frustration at being unable to take further action from his detention.
SBF’s defense team announced their intention to appeal the sentence, criticizing the trial for not allowing a complete presentation of evidence and witnesses.
