Sam Bankman-Fried was sentenced to 25 years in prison

Sam Bankman-Fried was sentenced to 25 years in prison for fraud related to the collapse of the cryptocurrency exchange FTX.

Bankman-Fried's conviction was shorter than the 40 to 50 years sought by federal prosecutors, but more than the six and a half years recommended by her attorneys.

Bankman-Fried faces a maximum sentence of 110 years in prison.

The Bahamas-based cryptocurrency exchange filed for bankruptcy in November 2022 after it was revealed that FTX's sister trading firm Alameda Research has a significant proportion on its balance sheet, mostly in FTT, the exchange's native token. made up

The 32-year-old founder of the bankrupt exchange pleaded guilty last November to stealing $8 billion in customer funds.

Bankman-Fried was convicted of seven counts of fraud and conspiracy.

The FTX case has been compared to the biggest financial frauds in history, including Bernie Madoff and Enron.

Bankman-Fried is expected to appeal the conviction.