FTX founder Bankman-Fried sentenced to 25 years in prison for crypto fraud

"There is a risk that this man will be in position to do something very bad in the future. And it’s not a trivial risk at all”

Sam Bankman-Fried leaves Manhattan federal court in New York on Feb. 16, 2023 . Picture: AP Photo/Seth Wenig, File

Crypto entrepreneur Sam Bankman-Fried was sentenced to 25 years in prison on Thursday for billion-dollar fraud that unravelled with the collapse of FTX, once one of the world’s most popular platforms for exchanging 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.