--- title: "Sam Bankman-Fried Sentenced to 25 Years" description: "Disgraced crypto CEO Sam Bankman-Fried has been sentenced to 25 years in prison for defrauding investors out of billions of dollars." date: "2024-03-28" modified: "2024-03-28" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/the-byte/sam-bankman-fried-sentenced-25-years" categories: - "Blockchain" - "Future Society" tags: - "ftx" - "sam bankman-fried" - "sbf" - "the digest" --- # Sam Bankman-Fried Sentenced to 25 Years ![Disgraced crypto CEO Sam Bankman-Fried has been sentenced to 25 years in prison for defrauding investors out of billions of dollars.]() *\Image: Getty / Futurism\* ## Gavel Strike Disgraced crypto CEO Sam Bankman-Fried [has been sentenced to 25 years]() in prison for defrauding investors out of billions of dollars. That's some serious time, but only roughly half of the sentence prosecutors were pushing for. Bankman-Fried appeared uncharacteristically remorseful during today's sentencing. "They built something really beautiful and I threw all of that away," he said of FTX, as [quoted by *CNBC*](). "It haunts me every day." Veteran federal judge Lewis Kaplan estimated that the total loss of the fraud was over $550 million. The sentencing bookends over a year of [cringeworthy court appearances](), [shocking revelations](), a [mountain of incriminating evidence]() — and [furious investors](), who are still looking to have FTX recoup their lost funds. ## Seeing Through the BS-F Kaplan also shot back at Bankman-Fried's desperate attempts earlier this month to reduce his sentence. In a Hail Mary [memo](), the former FTX CEO argued that the "loss" and "harm" to his customers is "zero" — claims that were [met with raised eyebrows](), since the millennial's FTX crypto exchange [collapsed into rubble 2022](). The judge, however, rejected "the entirety of defendant’s argument there was no loss" today, calling out SBF's claims as "misleading, logically flawed and speculative." Bankman-Fried was [found guilty]() on all seven counts of fraud and conspiracy in November. At the time, he was staring down a statutory maximum of 110 years in prison. Jurors only took three hours to deliberate the decision. Earlier this month, however, US prosecutors [urged]() Kaplan to sentence him to between 40 and 50 years. Kaplan has since recommended that Bankman-Fried be placed in a medium-security facility, arguing "that this man will be in a position to do something very bad in the future, and it's not a trivial risk," as [quoted by *CNN*](). Medium-security prisons often have double fences, electronic detection systems, and cell housing in the US. But to the disgraced crypto baron's legal team, the fight isn't over just yet. "Mr. Bankman Fried maintains his innocence and will continue to vigorously fight the charges against him," said Bankman-Fried's lead defense attorney Mark Cohen in a [statement](). Bankman-Fried is expected to appeal today's decision. **More on the saga:** *[The New CEO of FTX Blasts Sam Bankman-Fried for Lying to Get Out of Jail]()* ## Author I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida. ### Author social links [Bluesky]()