Former FTX CEO, Sam Bankman-Fried, has been sentenced to 25 years in prison for his role in the downfall of the cryptocurrency exchange. Judge Lewis Kaplan emphasized Bankman-Fried's obstruction of justice and witness interference as key factors in the sentencing decision.

Despite the defense's plea for a reduced 6½-year term, Judge Kaplan sided with the prosecution and imposed a harsher punishment. The victims' statements revealed significant financial and emotional harm, leading to one of the lengthiest sentences for recent white-collar crimes.

FTX, previously valued at over $30 billion, experienced a collapse in 2022 when an $8 billion misappropriation of client funds was discovered. Bankman-Fried's defense argued that the funds were borrowed for his investment business, but the jury found him guilty on all charges. Critics and experts criticized his defense as weak and lacking empathy.

In a separate incident, Bankman-Fried's parents denied any involvement in fraud or mismanagement at FTX.