The Latest Breaking News from Sam Bankman-Fried

Paradigm, which invested $278 million into the collapsed FTX, is reportedly in talks to raise up to $850 million for a new crypto fund that could further propel the web3 ecosystem forward.

Bankman-Fried reportedly hinted at plans for an appeal, citing trial testimony that he claimed misrepresented events and the exclusion of crucial evidence.

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.

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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.

"He knew it was wrong. He knew it was criminal," Judge Lewis Kaplan said of the convicted crypto fraudster

Bankman-Fried, 32, sentenced for fraud on customers of the FTX cryptocurrency exchange he founded.