Bankman-Fried Sentenced to 25 Years, Ordered to Pay $11 Billion in FTX Collapse

Sam Bankman-Fried said he didn't think what he was doing with FTX was illegal but takes responsibility as CEO for its collapse, in his first interview from jail where he is serving a 25 year sentence.

Bankman-Fried claims FTX customers could have been paid back if he or another former colleague had remained in charge, but the judge said that argument is "logically flawed" and "speculative."

More than 1 million FTX customers face potential losses totaling over $19 billion based on current crypto prices.

Bankman-Fried amassed a $26 billion fortune in under a decade, gaining celebrity pals before his house of cards collapsed when FTX went bankrupt in Nov 2022.

The judge ordered Bankman-Fried to pay $11 billion in restitution and sentenced him to 25 years, saying "A thief who takes his loot to Las Vegas and successfully bets the stolen money is not entitled to a discount on the sentence."