Prosecutors seek up to 50 years in jail for FTX founder in cryptocurrency fraud

FTX founder Sam Bankman-Fried leaving a New York court in July 2023 (Mary Altaffer/AP)

Federal prosecutors asked a New York judge on Friday to sentence FTX founder Sam Bankman-Fried to between 40 and 50 years in prison for cryptocurrency crimes they described as a “historic fraud”.

Prosecutors made the request as they submitted their pre-sentence recommendations to a federal judge who will sentence a man who at one time dazzled the cryptocurrency world with his promotional skills, including his access to famous people willing to promote his businesses.