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Sam Bankman-Fried Claims Ignorance of Illegality in First Post-Sentencing Interview

The FTX founder expresses remorse and frustration over the collapse's impact, as efforts to recoup customer losses continue.

In this courtroom sketch, Sam Bankman-Fried, center, sits at the defense table wearing leg shackles during his sentencing in Manhattan federal court, Thursday, March. 28, 2024, in New York. Crypto entrepreneur Bankman-Fried was sentenced Thursday to 25 years in prison for a massive fraud that unraveled with the collapse of FTX, once one of the world's most popular platforms for exchanging digital currency.
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Overview

  • Sam Bankman-Fried, the former CEO of FTX, insists he never believed his actions were illegal in his first interview since receiving a 25-year prison sentence.
  • Bankman-Fried expresses remorse and frustration over not being able to do more to repair the damage caused by FTX's collapse, affecting over a million customers.
  • He claims there were sufficient assets to repay customers, lenders, and investors in full, but his assertions were rejected by the judge during sentencing.
  • One of the largest FTX creditors, Zach Bruch, is working with the US Department of Justice to recoup funds lost by customers, aiming to make all creditors whole.
  • Bankman-Fried plans to appeal his 25-year sentence later this year, arguing that his trial was unfair and critical evidence was not admitted.