Brief by Shorts91 Newsdesk / 09:05am on 30 Mar 2024,Saturday International
Former FTX co-founder Sam Bankman-Fried has been sentenced to 25 years in prison for defrauding customers and investors, as his once-prominent crypto exchange collapsed in 2022. The ruling follows findings that he stole billions ahead of the firm's downfall. Bankman-Fried's legal team plans to appeal. His parents expressed heartbreak over the verdict. The 32-year-old apologized in court for letting people down. FTX, once a major exchange, faced a deposit run amid financial troubles, leading to its demise and revealing Bankman-Fried's crimes.
