The Latest Breaking News from FTX

Former billionaire crypto trader Sam Bankman-Fried has filed an appeal against his fraud conviction and 25-year jail sentence for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded in one of the biggest financial frauds in the history of the United States, which impacted victims all…

Bankman-Fried faces steep odds in bid to overturn conviction stemming from the collapse of his cryptocurrency exchange.

Sam Bankman-Fried has been slapped with a 25-year sentence for defrauding numerous individuals who believed in his fake crypto empire, but many are unhappy with the "short" sentence. Others are demanding that all the donations he made to political campaigns be returned.

US District Judge Lewis Kaplan said the defendant, who became known by his initials "SBF," had shown no "real remorse."

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Learn about the downfall of Sam Bankman-Fried, co-founder of FTX, due to financial misconduct, resulting in a 25-year prison sentence.

US District Judge Lewis Kaplan said the defendant, who became known by his initials "SBF," had shown no "real remorse," even in his final pre-sentencing remarks in which the former billionaire rued "a series of bad decisions" but did not acknowledge knowingly violating financial laws.

He was convicted of charges including wire fraud, conspiracy to commit money laundering, and using customer funds for personal expenses such as real estate and political donations.

The disgraced mogul will likely be behind bars for decades.