Sam Bankman-Fried FTX fraud victim tells judge: ‘My whole life has been destroyed’
NEW YORK, US – JANUARY 03: Sam Bankman-Fried leaves the court in New York, on January 03, 2023.
Fatih Aktas | Anadolu Agency | Getty Images
In a letter to the Department of Justice, an FTX customer who lost $4 million when the exchange filed for bankruptcy in 2022 expressed disgust at a circulating narrative that clients of the crypto exchange would ever be made whole.
“I have scraped the docket of scheduled claims and calculated the exact amount stolen,” wrote the former FTX customer, whose identity has been concealed by the government. “The total value of customer liabilities is $19,722,911,002.84.”
This week, that letter ended up on the desk of U.S. District Judge Lewis Kaplan, who on Thursday will inform FTX founder Sam Bankman-Fried of his prison sentence stemming from his role in the collapse of the exchange. At 9:30 a.m., sentencing proceedings will take place on the 26th floor of the federal courthouse in downtown Manhattan, the same place where a jury found the former crypto executive guilty of all seven criminal counts against him in November.
The victim, who wrote that 30 years worth of savings had been deposited into FTX three months before the exchange collapsed, is part of a last-minute push by prosecutors to sway Judge Kaplan ahead of the sentencing.
“My whole life has been destroyed,” the person wrote. “I have 2 young children, one born right before the collapse. Beyond the money, I lost my happiness, my ability to get out of bed, my desire to continue living. My wife is suicidal and depressed.”
The same sorts of stories were told during Bankman-Fried’s monthlong criminal trial last year. Prosecutors won their case by convincing jurors that Bankman-Fried had stolen at least $8 billion from customers. For some people, that meant financial ruin.
“In its sentencing submission, the prosecution has included moving accounts from FTX’s former customers that speak to the devastation experienced by those losing their money, the uncertainty of wondering whether they might ever get any of it back, and dealing with the emotional fallout of being duped,” said Yesha Yadav, law professor and Associate Dean at Vanderbilt University. “These victim impact statements can be very powerful.”
Bankman-Fried, 32, faces a maximum sentence of more than 100 years in prison, though the government has suggested a sentence in the range of 40 to 50 years. The defense is angling for no more than 6.5 years.
For months, Judge Kaplan has been weighing the appropriate punishment for Bankman-Fried’s crimes related to the implosion of his $32 billion crypto empire.
CNBC spoke to former federal prosecutors, trial attorneys, and a mix of lawyers working to defend white collar criminals to get their take on what to expect on Thursday.
Damaging testimony
Bankman-Fried was convicted of wire fraud and conspiracy to commit wire fraud against FTX customers and against lenders to sister hedge fund Alameda Research, as well as conspiracy to commit securities fraud and conspiracy to commit commodities fraud against FTX investors, and conspiracy to commit money laundering.
The defense team has argued that Bankman-Fried’s sentence should reflect the potential that FTX customers will be paid back in part or in full. The likelihood of that scenario has increased in recent months thanks to the rising value of cryptocurrencies and other assets FTX owned, such as its stake in artificial intelligence startup Anthropic.
Even as the bankruptcy estate promises to pay customers back, many of FTX’s thousands of victims argue that their crypto stakes have been significantly undervalued by the exchange’s new leadership team.
“A lot will be said about the loss at the time of the conduct, not the recovery or potential recovery after it was discovered,” said former federal and state prosecutor David Weinstein, who now practices as a corporate compliance and white collar defense attorney at Jones Walker. Weinstein said he expects to see a sentence in the range of 30 to 40 years.
Mark Bini, a former state and federal prosecutor and U.S. assistant attorney who specialized in financial crimes, anticipates a sentence of no less than 30 years.
“Probation calculates the guidelines at 110 years,” said Bini, who currently represents white collar crypto defendants as part of law firm Reed Smith’s On Chain digital asset team. “I think the judge is likely to side with probation and the government on the loss amount and the appropriate guidelines.”
Caroline Ellison, former chief executive officer of Alameda Research LLC, arrives to court in New York, US, on Thursday, Oct. 12, 2023.
Bloomberg | Bloomberg | Getty Images
Judge Kaplan, 78, is a veteran of the Southern District of New York and has presided over some of the biggest cases to roll through his courthouse. He showed little patience for Bankman-Fried during the defendant’s four days on the stand.
“Unfortunately for SBF, some of his testimony at trial came across as highly evasive, somewhat cold and often contradictory,” said Yadav, adding that a sentence of 20 to 25 years could offer Judge Kaplan a way to balance the severity of the crime with a recognition of customer recoveries and the potential for future rehabilitation.
Former federal prosecutor Neama Rahmani described Kaplan as “old school” and predicted a sentence of 20 to 30 years.
Tre Lovell, a Los Angeles corporate law attorney, said the core factors Kaplan will consider will be the extent of the fraud, along with the fact that Bankman-Fried appeared to have lied under oath while showing little remorse.
“The judge isn’t going to cut Bankman-Fried a break just because FTX has recovered a lot of funds to offset the amount that customers lost,” Lovell said. “The judge is just going to look at Bankman-Fried’s conduct at the time he was in charge of the company, not what the company did after he stepped down as CEO.”
Bankman-Fried has one last chance to take the stand in front of the judge in order to show some level of contrition and a promise to become a benefit to society.
“If he says he’s had a chance to think about what he did and that he’s very sorry for misusing the hard-won funds of investors, and that he wants to use his acumen in this field for the public good, then he may walk out with a prison sentence that is south of 20 years,” Lovell said. “In court, it’s never too late to say you’re sorry. But he won’t get a big discount on his sentence just for being contrite.”
WATCH: Prosecutors recommend a 40-50 year prison sentence for Bankman-Fried
InMotion, a well-known brand in the world of personal electric mobility, has officially launched its latest electric unicycle, the InMotion V9. Combining advanced technology and new safety features, the V9’s design positions this electric unicycle as a key option for urban commuters and adventure seekers alike who want good performance without spending a fortune.
Believe it or not, the electric unicycle market is quite broad. There are dozens of interesting models, offering everything from slow, beginner-friendly wheels to massively powerful and scary fast off-road electric unicycles (EUCs).
The new InMotion V9 launches as something of an in-between wheel, providing enough power and speed to keep it fun and interesting, yet without going so over-the-top that it becomes unaffordable or unapproachable by newer riders.
Priced at $1,299, the InMotion V9 is powered by a 1,000W motor that can reach peak outputs of 2,000W. This setup delivers a top speed of around 28 mph (45 km/h), positioning it well for urban streets and bike lanes, two of the most common stomping grounds for EUCs.
Range anxiety isn’t just a concern for cars; it can also affect micromobility riders. For its part, InMotion gave the V9 a fairly hefty 84V and 750Wh battery. This capacity allows the V9 to achieve up to 37 miles (60 km) per charge under optimal conditions. The UL-listed battery charges fairly quickly, reaching full capacity in approximately five hours.
One key feature of the V9 not found on most beginner-friendly wheels is its Nimbus Air suspension system, which provides 60 mm of travel to enhance rider comfort and reduce fatigue on uneven surfaces.
The included suspension is even more notable considering the V9 is currently InMotion’s lightest suspension-equipped electric unicycle, weighing around 48.5 lbs (22 kg). And speaking of weight, the EUC can support riders weighing up to 265 lbs (120 kg).
The InMotion V9 doesn’t skimp on smart features, either. Its integrated GPS tracking enables owners to remotely locate and monitor their unicycle via InMotion’s mobile app, even when powered off. Remote locking functionality further enhances security, ensuring peace of mind for riders frequently leaving their wheel unattended.
Additional smart integrations include customizable RGB side accent lights and built-in Bluetooth speakers, allowing riders to personalize their ride and stay entertained while commuting – or just keep cars and other road users more aware of their presence. The V9 also includes USB-A and USB-C ports with 20W output to ensure riders can conveniently charge their mobile devices while on the go.
Safety is always paramount in electric transportation devices, especially those that come with their own unique concerns like electric unicycles. The V9 has TÜV Rheinland UL2272 certification and “advanced fire-resistant technology” to mitigate risks further.
The InMotion V9 is now available for purchase through local InMotion dealers and via the official InMotion online store.
I don’t cover electric unicycles as often as e-bikes, scooters, and other micromobility devices, but not because they are less deserving. They’re certainly more niche, but I know that the EUC community is adamant about their advantages. And listen, I get it. They’re small and convenient to park or store inside, they don’t require much maintenance at all, and they’re pretty fun after you get the hang of them. An EUC can be intimidating at first, but once it clicks in your brain after a few learning sessions, riding one is a blast!
With the electric unicycle market continuing to gain traction, InMotion still faces competition from other premium brands. However, the V9’s comprehensive package of comfort, safety, and advanced smart features, combined with its competitive price point, should place it pretty well in the crowded landscape of personal electric transportation.
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Fremont, California-based Delta Electronics just rolled out a sleek new 50kW DC Wallbox charger that’s designed for tight spaces at ACT Expo 2025.
This charger packs a punch in a surprisingly slim, 10-inch-thick, and lightweight (just 225 pounds!) casing that can be wall-mounted or set up on a pedestal. It’s specifically designed for tight spaces like urban parking lots, busy corporate campuses, or crowded fleet operation hubs.
Delta plans to manufacture these 50kW DC Wallbox chargers in Plano, Texas, keeping it local and supporting the rapid EV infrastructure growth across North America.
A 50 kW charger is at the low end of Level 3 fast charging speed, because you don’t always need to charge your car in 25 minutes. It’s the ideal charging speed for shopping, lunch, or seeing a film. Eng Taing, Delta’s senior VP and GM of energy & telecom Infrastructure, says, “Our focus is on seamlessly integrating high efficiency charging into the diverse scenarios of everyday life, including commercial operations, not just maximizing power output.”
With a 97% efficiency rate, the Wallbox can juice up two EVs simultaneously using either CCS1 or NACS connectors. Plus, the 23-foot cable makes it easy to accommodate nearly any parking layout, eliminating headaches during installation.
Delta’s vertical integration approach means it handles everything from design to manufacturing. But it doesn’t stop at hardware; the charger also connects to Delta’s IoT platform, offering remote diagnostics, predictive maintenance, and over-the-air updates. That hopefully means fewer disruptions and smoother operations for fleet managers and EV users.
If you live in an area that has frequent natural disaster events, and are interested in making your home more resilient to power outages, consider going solar and adding a battery storage system. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*
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More car buyers are hunting for used EVs – CarMax says searches filtered by “electric vehicle” have nearly doubled since January 2022.
CarMax saw EV searches surge in March 2022 and again in June 2024. The first spike lined up with the gas price shock after Russia invaded Ukraine, and the second came right as the Biden administration rolled out its $4,000 federal tax credit for used EVs.
The online used car marketplace’s Spring 2025 Electric Vehicle Consumer Report shows just how far used EV prices have tumbled, down over 40% between January 2022 and February 2025. By comparison, prices for gas cars, hybrids, and plug-in hybrids only slipped about 12% over the same period.
The top 10 most popular used EVs
For the third year running, the Tesla Model 3 and the Model Y were in the No. 1 and No. 2 slots, respectively, from September 1, 2024, to February 28, 2025. The Chevy Bolt jumped into third place from its previous spot at No. 7 in 2024 and 2023. The Ford F-150 Lightning (7) and the Rivian R1T (10) made the top 10 for the first time, while the Tesla Model S and the Audi e-tron dropped out. The Hyundai Ioniq 5 and Nissan Leaf were at Nos. 5 and 6, and the Volkswagen ID.4 (4), Nissan LEAF (6), and the Ford Mustang Mach-E (9) made the list for the third year in a row.
What people are trading in
For the first time ever, more people are ditching sedans and coupes for EVs than SUVs. CarMax says sedans and coupes made up 44% of all EV trade-ins, up from 36% in 2024 and just 29% the year before. It’s a clear sign that the EV switch is picking up speed across more than just SUV drivers.
When customers traded in sedans for EVs during this report’s measurement period, the most common EVs they purchased were the Tesla Model 3, Tesla Model Y, and Chevy Bolt EUV.
The top traded-in model for an EV at CarMax was the Tesla Model 3, and those who traded in a Model 3 usually went for a Model Y. The rest of the top five include the Honda Civic and Accord, the Nissan LEAF, and the Toyota Prius. The Ford F-150 truck, the top trade-in alongside the Accord in the 2024 report, dropped off the list.
Where used EVs are most popular
Since this is CarMax’s report, it’s of course based on data sourced from its 250 stores across the US. In 2025, Oregon beat California to become the state with the highest percentage of EV sales compared to each state’s total sales at CarMax. California has previously held the top ranking since 2023.
The West Coast continued to dominate when it came to used EV sales. California and Washington were in second and third place, respectively. Nevada and Arizona were fourth and sixth, while Utah and New Mexico (new to the top 10 list this year) held spots five and seven. On the East Coast, New York (10) appeared on the list for a second time, dropping two spots from No. 8 in 2024.
The newcomers include Minnesota, which jumped 24 spots in a year to No. 8, and New Jersey, which moved up six slots to No. 9.
To limit power outages and make your home more resilient, consider going solar with a battery storage system. In order to find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and you share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*
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