This Is What SBF Had to Say After His 25-Year Sentence

In an interview with ABC News, former FTX CEO Sam Bankman-Fried expressed remorse for his actions, which led to a 25-year prison sentence for fraud.

The interview, conducted via email from the Metropolitan Detention Center in Brooklyn, marks the first time he has spoken publicly since his sentencing last week.

SBF Admits ‘Bad Decisions’ Led to Bankruptcy

Reflecting on his actions, SBF admitted to ABC News that FTX’s bankruptcy resulted from a series of “bad decisions” he made in 2022. “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.

During his sentencing, U.S. District Judge Lewis Kaplan criticized Bankman-Fried for his lack of remorse, stating that his remarks never conveyed “a word of remorse for the commission of terrible crimes.” However, Bankman-Fried claimed that he does feel this way.

“Of course, I’m remorseful,” he said. “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 expressed regret for the impact of his actions on FTX customers, co-workers, and the charities he supported. He lamented the loss suffered by those affected and acknowledged his responsibility as the CEO of FTX.

“I’m haunted, every day, by what was lost. I never intended to hurt anyone or take anyone’s money. But I was the CEO of FTX, I was responsible for what happened to the company, and when you’re responsible, it doesn’t matter why it goes bad,” he said.

Appeal Amid Allegations of Unfair Trial

In his statement to the court, he argued that had he or another FTX employee remained CEO, customers would have been repaid long ago. He criticized the decision not to restart the exchange, which he believed could have preserved long-term value and facilitated repayment.

Bankman-Fried also raised concerns about the fairness of his trial, accusing the law firm representing FTX’s new ownership, Sullivan & Cromwell, of collaborating with prosecutors. He indicated plans to appeal later this year based on what he described as misrepresented trial testimony and the exclusion of crucial evidence.

Following his sentencing, he stated, “I’d give anything to be out there, trying to make a positive difference in the world, but I know that’s not going to happen. I can’t help from prison,” he said in court.