Sam Bankman-Fried Should Serve 40–50 Years in Prison, Prosecutors Say

Sam Bankman-Fried, founder of failed crypto platform FTX, could face decades behind bars as prosecutors have asked for a ‘lengthy sentence’ of 40-50 years.

Indicted FTX founder Sam Bankman-Fried leaves the United States Courthouse in New York on July 26, 2023. Amr Alfiky/Reuters

Prosecutors said in a new court filing that Sam Bankman-Fried should spend 40–50 years in prison after being convicted of stealing $8 billion from customers of his defunct crypto platform FTX.

In a 116-page sentencing memo filed on March 15 at the U.S. District Court in Manhattan, prosecutors wrote that Mr. Bankman-Fried’s various crimes merit a “very significant sentence” of 40–50 years behind bars in order to deter similar actions and to protect the public.