Sentencing Day for FTX Founder Sam Bankman-Fried After $14 Billion Crypto Collapse

FTX co-founder Sam Bankman-Fried will be sentenced on Thursday for defrauding investors, customers, and lenders out of up to $14 billion. He faces up to 110 years in prison.

Prosecutors have requested 40-50 years while the defense asked for 6.5 years. The judge admonished Bankman-Fried during the trial.

Bankman-Fried was convicted of stealing customer deposits from FTX to spend on investments, loans, political donations, and real estate.

His lawyers argue he made poor business decisions, not fraud, and that he has autism which causes him to assess risk differently.

Although billions were put at risk, FTX now says victims may be fully repaid. The judge must weigh the losses against the possibility customers get their money back.