He Stole $8 Billion And Got 25 Years. The Victims Still Lost Most Of Their Money.

He Stole $8 Billion And Got 25 Years. The Victims Still Lost Most Of Their Money. In November 2022, FTX collapsed with an $8 billion hole in customer funds. Sam Bankman-Fried was sentenced to 25 years in federal prison. His victims were told they'd been "made whole." Technically, that's true — every customer was repaid in U.S. dollars. But Bitcoin was worth $16,000 the day FTX froze withdrawals. It's worth several times that today. In real terms, customers lost most of what they had. This is the story of the second-largest financial fraud in U.S. history, the "made whole" narrative that let prosecutors declare victory, and why nominal repayment isn't the same as being made whole. ▶ Subscribe for more: Unraveled Media