The former chief executive of FTX and owner of Alameda Research, Sam Bankman-Fried, has received a 25-year prison sentence following his conviction for various felony offenses including wire fraud, fraud conspiracy, and money laundering conspiracy.

Both FTX and Alameda Research filed for bankruptcy after Bankman-Fried and his co-conspirators misappropriated billions of dollars. The defense argued that the bankruptcy would result in full recovery, but the current CEO of FTX, John J. Ray III, refuted this claim, stating it was false.

The judge rejected the defense's argument about loss, emphasizing that customers and creditors may not be paid in full, contrary to the defense's assertions. Bankman-Fried maintained false claims regarding the financial state of FTX and the assets available for payment to customers.

The judge noted that Bankman-Fried's habit of lying and avoiding the truth was unique in his long career on the bench. In the United States, inmates must serve a minimum of 85% of their sentence before being eligible for release. Bankman-Fried's legal team indicated they plan to appeal the decision.