Former “crypto king” Sam Bankman-Fried told ABC News via an exclusive interview that he is remorseful following his actions. During the past week, he was sentenced to 25 years in jail for fraud.
SBF also said that he feels remorse:
“I’ve heard and seen the despair, frustration and sense of betrayal from thousands of customers; they deserve to be paid in full, at current price.”
SBF continued and explained that this should have happened back in November 2022, and it could and should happen today, highlighting that it’s excruciating to see customers still waiting, day after day.
He addressed all these things while speaking to ABC News via email from the Metropolitan Detention Center in Brooklyn.
Sam Bankman-Fried received 25 years in jail
Bankman-Fried’s sentence marked the end of a 17-month ordeal that began in November 2022.
He was the co-founder and CEO of FTX, a global cryptocurrency exchange, which suffered a catastrophic failure, resulting in an $8 billion loss for its customers. Following the company’s collapse, Bankman-Fried resigned from his position, and the new ownership filed for bankruptcy.
Prosecutors accused him of stealing funds from FTX clients to make political contributions, investments, and personal gains. Last autumn, he was found guilty of seven counts of fraud, conspiracy, and money laundering.
In court, he said that there are and always have been plenty of assets to repay customers, lenders, and investors in full “at current prices or prices at the time.”
Following his sentencing, he said he lost everything he had to lose, and he’d give anything to “be out there, trying to make a positive difference in the world.”
