The founder of the bankrupt crypto exchange FTX received 25 years in prison on fraud charges
The founder of the FTX crypto exchange, which went bankrupt in 2022, Sam Bankman-Fried, received 25 years in prison for stealing billions of dollars from clients. The judge, handing down the sentence, said that Bankman-Fried was aware of the criminality of his actions and “in vain hoped that he would not be caught.” A jury found Bankman-Fried guilty on November 3, 2023, on all seven charges.