Ex-crypto CEO Sam Bankman-Fried responds to heavy prison sentence for the first time: “Never thought I was doing anything illegal” | Abroad

Ex-crypto CEO Sam Bankman-Fried responds to heavy prison sentence for the first time: “Never thought I was doing anything illegal” | Abroad
Ex-crypto CEO Sam Bankman-Fried responds to heavy prison sentence for the first time: “Never thought I was doing anything illegal” | Abroad
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Sam Bankman-Fried (32), the founder of the bankrupt crypto exchange FTX, has made himself heard for the first time after he was sentenced last week to 25 years in prison for fraud. In an exclusive interview with the American news channel ‘ABC News’, the fallen crypto king claims that he did not know he was doing anything illegal. “But I do regret it,” he says.

LOOK. Sam Bankman-Fried was given a 25-year prison sentence last week for fraud

Last week, 32-year-old Bankman-Fried received a 25-year prison sentence for one of the largest financial fraud cases ever. The ex-crypto boss secretly channeled 8 billion dollars (about 7.4 billion euros) from FTX customers to his investment fund Alameda Research between 2019 and 2022. He then made risky investments with it. When thousands of customers could not get their money, the crypto exchange went bankrupt.

In the interview with ‘ABC News’, Bankman-Fried now says that FTX’s bankruptcy was the result of several “bad decisions” he made in recent years. “I never thought that what I did was illegal,” claims the American, who, according to friends and colleagues, personally gave the order to mislead his customers.

Sam Bankman-Fried during his arrest in the Bahamas on December 13, 2022. © AFP

Regret

Although Bankman-Fried did not appear to regret his actions according to the judge, he himself contradicts this. “Of course I regret it. I have heard and seen the desperation, frustrations and sense of betrayal from thousands of customers. They deserve to be repaid in full (…). It is unbearable to see them waiting so long,” he said. The FTX founder says he thinks about everything he has lost “every day”.

Although Bankman-Fried continued to deny in court that he had robbed his customers, he now seems to think differently. “It was never my intention to hurt anyone or steal anyone’s money. I would give anything to repair even some of the damage. I do what I can from prison, but it is very frustrating not to be able to do more,” he says.

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The article is in Dutch

Tags: Excrypto CEO Sam BankmanFried responds heavy prison sentence time thought illegal

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