Following his sentencing to 25 years in federal prison, former FTX CEO Sam “SBF” Bankman-Fried has spoken out, stating, “I never thought what I was doing was illegal.” This statement, reportedly made via email from the Metropolitan Detention Center in Brooklyn where he has been held since August 2023, came after Judge Lewis Kaplan of the United States District Court for the Southern District of New York handed down the sentence on March 28.
Bankman-Fried’s response to questions from news outlets seemed to deflect responsibility for the collapse of the crypto exchange in November 2022, acknowledging “bad decisions” but denying any intentional harm or selfish motives. He expressed regret over the losses incurred and asserted that he never intended to hurt anyone or misappropriate funds.
The statement to ABC News may be one of the last public communications from Bankman-Fried before he begins serving his sentence. Judge Kaplan recommended that he serve the remainder of his term at a medium- or low-security prison in the San Francisco Bay Area.
Considering the time already spent in detention, Bankman-Fried is expected to serve roughly 24.25 years, with the possibility of reducing his sentence for good behavior, although there is no parole in the federal prison system.
Bankman-Fried’s legal team has indicated their intention to appeal the verdict, although no appeal had been filed as of the time of publication.
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