FTX founder Bankman-Fried facing decades in prison for crypto fraud

Sam Bankman-Fried is facing a lengthy prison sentence (AP Photo/Seth Wenig, File)

Former crypto mogul Sam Bankman-Fried faces the potential of decades in prison when he is sentenced on Thursday for his role in the 2022 collapse of FTX, once one of the world’s most popular platforms for trading digital currency.

Bankman-Fried, 32, was convicted in November of fraud and conspiracy – a dramatic fall from a year earlier when he and his companies seemed to be riding a crest of success that resulted in a Super Bowl advertisement and celebrity endorsements from stars like gridiron star Tom Brady and comedian Larry David.