Fun

Sam Bankman-Fried speaks out after sentencing: ‘I never thought what I was doing was illegal’

News Feed - 2024-04-02 03:04:52

Turner Wright5 hours agoSam Bankman-Fried speaks out after sentencing: ‘I never thought what I was doing was illegal’The statement to the media may be one of the last the former FTX CEO made before going to a federal prison, which was suggested to be in the San Francisco Bay Area.3601 Total views16 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksFormer FTX CEO Sam “SBF” Bankman-Fried has reportedly responded to questioning from news outlets following being sentenced to 25 years in federal prison.


According to an April 1 report from ABC News, Bankman-Fried responded via email to questions from the Metropolitan Detention Center in Brooklyn, where he has been held since August 2023. On March 28, Judge Lewis Kaplan of the United States District Court for the Southern District of New York sentenced the former FTX CEO to 25 years after his conviction on seven felony counts.


“I never thought that what I was doing was illegal,” said SBF, according to ABC. “I’m haunted, every day, by what was lost. I never intended to hurt anyone or take anyone’s money.”


Many of Bankman-Fried’s answers to questions seemed to avoid responsibility for the collapse of the crypto exchange in November 2022, claiming he made “bad decisions” but did not act selflessly or selfishly. His statement mirrored that of one he made before sentencing, mainly justifying his actions before FTX declared bankruptcy and claiming the exchange “would have survived” and customers would get repaid.


The statement to ABC may be one of the last SBF made before going to federal prison. Judge Kaplan recommended the former CEO serve the remainder of his time at a medium- or low-security prison in the San Francisco Bay Area.


Related:Sam Bankman-Fried gets 25 years — What happens now?


A March 28 docket entry suggested that Bankman-Fried would serve roughly 24.25 years, in consideration of the months already spent behind bars after being remanded by Judge Kaplan. Legal experts have suggested that the former CEO could earn years off his sentence for good behavior, but there is no parole in the federal prison system.


Bankman-Fried’s lawyers said on March 28 they intended to appeal the verdict. No appeal had been filed at the time of publication.


Magazine:‘Less flashy’ Mashinsky set for less jail time than SBF: Inner City Press, X Hall of Flame# Law# Crimes# Sam Bankman-Fried# FTX# RegulationAdd reactionAdd reaction

News Feed
Amaka Nwaokocha22 minutes agoDigital yuan integration introduced to Chinese business air travelThe Civil Aviation Administration and China Merchants Bank said passengers will be able to utilize the digital currency to ac
2023-07-21 17:37 PM
Former Cohasset High School Employee Accused of Stealing Thousands in Electricity to Mine Bitcoin in School Campus Crawlspace
Former Cohasset High School Employee Accused of Stealing Thousands in Electricity to Mine Bitcoin in School Campus Crawlspace A former school assistant facilities director in Cohas
2023-02-24 03:30 AM
Tax Friendly Saint Kitts and Nevis Approves Progressive Crypto Bill, Lenient Capital Gains Exemption
Tax Friendly Saint Kitts and Nevis Approves Progressive Crypto Bill, Lenient Capital Gains Exemption The island country of Saint Kitts and Nevis, located in the West Indies, rece
2020-02-07 13:15 PM
US Financial Regulators Join UK FCA’s ‘Global Sandbox’
Four U.S. regulators joined the Global Financial Innovation Network, an international alliance of government regulators led by the UK’s Financial Conduct Authority seeking to bolster the future of fintech.
2019-10-25 02:45 AM
Zhiyuan Sun4 hours agoEthereum DeFi protocol Hope Lend drained after exploitThe protocol, which had 526 Ether in total value locked, was emptied in an attack on Oct. 18.858 Total views12 Total sharesListen to article 0:0
2023-10-19 04:22 AM
MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST
MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST On February 9, the American professional baseball team based in Washington, D.C
2022-02-12 05:30 AM
Amaka Nwaokocha11 hours agoShibarium could go live in August — DeveloperThe Shiba Inu ecosystem’s world paper, as well as new Shiba Inu projects and detailed information about the Treat token, will be presented at a
2023-07-07 21:45 PM
Solana memecoin frenzy raises questions about crypto utility, reputation
Prashant Jha10 hours agoSolana memecoin frenzy raises questions about crypto utility, reputationThe Solana memecoin frenzy has seen several tokens rise to multimillion-dollar market capitalizations within days.4645 Total
2024-04-11 23:00 PM
Russian Bill to Recognize Cryptocurrencies as Property Advances in Parliament
Russian Bill to Recognize Cryptocurrencies as Property Advances in Parliament Russia’s parliament has advanced the bill that proposes to recognize cryptocu
2021-02-22 17:30 PM
Retail Investors Branch to Altcoins: ‘60% of Coinbase Customers Start With Bitcoin, Only 24% Stick Exclusively’
Retail Investors Branch to Altcoins: ‘60% of Coinbase Customers Start With Bitcoin, Only 24% Stick Exclusively’On May 13, the San Francisco-based cryptocurrency exchange, Coinba
2020-05-20 08:01 AM
History of Crypto: NFT mania and digital ownership
Zhiyuan Sun9 hours agoHistory of Crypto: NFT mania and digital ownershipBetween 2020 and 2021, the development of nonfungible tokens saw significant growth and billion-dollar expansion across various sectors.3920 Total v
2024-04-15 23:05 PM
Polygon’s Discord channel hacked, team works to regain control
Amaka Nwaokocha17 minutes agoPolygon’s Discord channel hacked, team works to regain controlAs the value and popularity of digital assets continue to rise, cybercriminals are also incentivized to exploit any vulnerabili
2024-08-24 17:42 PM