The founder and former CEO of the FTX exchange, Sam Bankman-Fried (SBF), made his first comments after the verdict was announced. In a recent interview ABC News he stated that he repented of his actions.
In an email exchange with reporters, SBF said it regretted its actions:
Also, the former head of FTX noted that the insolvency of the exchange was the result of several wrong decisions made in 2022. According to Bankman-Fried, he could have paid money to clients after the exchange collapsed, but did not do so.
In addition, in his interview, Bankman-Fried stated that some of the testimony at the trial “significantly misrepresented what actually happened.” In addition, he said, the defense was not allowed to present certain evidence and bring in important witnesses.
On March 28, 2024, the Southern District of New York court sentenced Sam Bankman-Fried to 25 years in prison. He was also ordered to pay a fine of $11 billion. The former head of FTX was found guilty of seven counts.
In announcing the sentence, U.S. District Judge Lewis Kaplan said SBF had never expressed a word of remorse for his crimes. At the same time, the defense expressed its intention to appeal the court's decision.
Source: Cryptocurrency
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