FTX founder Sam Bankman-Fried speaks from jail cell after 25 year prison sentence

Sam Bankman-Fried, founder of bankrupt crypto exchange FTX issued his first statement since his sentencing on 28 March to 25 years in prison. 

In a statement to ABC News, he said that he was remorseful for his actions, and that “It’s most of what I think about each day.”

Sam Bankman-Fried is currently being held at the Metropolitan Detention Center in Brooklyn, NY.

Speaking to ABC via email, he said the fall of FTX was a result of “several bad decisions” he made in 2022.

Furthermore, despite showing remorse, Bankman-Fried revealed that he didn’t know at the time he was committing illegal acts or fraud.

“I never thought that what I was doing was illegal. But I tried to hold myself to a high standard, and I certainly didn’t meet that standard,” he said.

Sam Bankman-Fried was sentenced to 25 years in prison on Thursday for fraud. Speaking on his regrets, SBF says “I’ve heard and seen the despair, frustration, and sense of betrayal from thousands of customers; they deserve to be paid in full, at current price,” he said.

“That could and should have happened in November 2022, and it could and should happen today. It’s excruciating to see them waiting, day after day,” he adds.