What happened after FTX: a 25-year sentence and $12.7 billion for victims

In May 2023, Bitminer.io reported that prosecutors had added a bribery charge to the case against Sam Bankman-Fried, the founder of FTX. The site then went quiet. The cases didn’t, and the Bitminer.io enforcement ledger records how they ended.

The sentence

On March 28, 2024, Bankman-Fried was sentenced to 25 years in prison and ordered to forfeit over $11 billion. A jury had found him guilty on seven counts, including wire fraud and conspiracy to commit securities fraud, commodities fraud and money laundering, after a one-month trial.

According to the Justice Department, he misappropriated billions of dollars of FTX customer funds, defrauded FTX investors of more than $1.7 billion and defrauded lenders to Alameda Research of more than $1.3 billion.

In May 2024, a former FTX executive was sentenced to 90 months for unlawful political contributions and running an unlicensed money transmitting business.

Money for victims

On August 8, 2024, the CFTC obtained a consent order requiring FTX and Alameda to pay $12.7 billion: $8.7 billion in restitution and $4 billion in disgorgement, to compensate customers and other victims.

The following month, FTX’s audit firm Prager Metis agreed to pay $745,000 to settle SEC charges of negligence in its audits.

The insiders

On December 19, 2025, the SEC filed proposed final consent judgments against Alameda’s former chief executive, FTX’s former chief technology officer and its former co-lead engineer. The SEC’s complaints had alleged that FTX raised more than $1.8 billion from investors by falsely claiming it was a safe trading platform.

Sources

1. Bitminer.io, 25 May 2023: Former FTX Boss Charged for a $40 Million Bribe
2. US Department of Justice, Bankman-Fried sentencing
3. US Department of Justice, former FTX executive sentenced
4. CFTC, $12.7 billion judgment against FTX and Alameda
5. SEC, Prager Metis settlement
6. SEC, final consent judgments against former FTX and Alameda executives

By The Assayer, the Bitminer.io house byline. Written by AI from the sources above and checked automatically. No person reviewed it before publication. How we work.

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