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Disgraced FTX founder Sam Bankman-Fried whined that his “useful life” was over before he was sentenced Thursday to 25 years in prison.

“At the end of the day, my useful life is probably over,” Bankman-Fried said in a rambling 20-minute statement to a Manhattan court before Judge Lewis Kaplan handed down the sentence. “It has been over for a while now.”

The FTX founder, 32, was convicted of stealing more than $8 billion from his customers.

“I have long since given everything that I had to give, and I would do anything to be out there right now trying to help, but I know that’s not going to happen,” he said. “I can’t really do that from prison. I can’t really help.”

Bankman-Fried stood uncuffed in his tan jail garb to deliver his meandering mea culpa.

His hands were tightly clasped at his waist and his head was mostly bowed, with occasional glances at the judge, who called him “unremorseful.”

He said he made a “series of bad decisions” that led to the implosion of FTX, his cryptocurrency company, but the decisions were neither “selfish” or “selfless,” but just “bad.”

The fraudster said his customers “should be paid in full” to the “current value of assets” as there are “billions more than is necessary” available to use.

He also apologized to his employees, who “watched me throw away everything they had built.”

“I know a lot of people feel really let down, and they were right, they were, were very let down. I’m sorry about that. I’m sorry about what happened at every stage, things I should have done and said, things I shouldn’t have. I failed everyone that I care about and everything I care about too,” he said.

“They threw themselves into it. And then I threw all of that away,” he continued. “It haunts me every day.”

Judge Kaplan didn’t buy into Bankman-Fried’s apologies and said the disgraced tech whiz was “presenting himself as the good guy” when it was just an “act.”

He did it because he wanted to be a hugely, hugely politically influential person in this country, Kaplan said. He knew it was wrong, he knew it was criminal, he regrets that he made a very bad bet about the likelihood of being caught.”

Outside of his 25 years in prison, the former business owner was ordered to pay back $11 billion and has to forfeit any asset that could help him make the large repayment.

At his peak, the fraudster’s empire was worth $40 billion and he was rubbing elbows with the rich and powerful.

That all fell apart when he was arrested weeks after his platform collapsed and he was charged with using FTX users’ funds to pay off his $8 billion debt to his failing hedge fund Alameda Research.

He was later convicted of seven counts of fraud and conspiracy.

Kaplan Kaplan suggested that Bankman-Fried who is currently being held at the Metropolitan Detention Center in Brooklyn be sentenced to serve his time in a medium-security prison near his familys home in Northern California.

The Bureau of Prisons are expected to make a decision on where the scammer will go in the coming months.

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Politics

Budget 2025: Over a third of Britons think Rachel Reeves exaggerated bad news

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Budget 2025: Over a third of Britons think Rachel Reeves exaggerated bad news

Over a third of people think Rachel Reeves exaggerated economic bad news in the run-up to the budget – twice as many as thought the chancellor was being honest, a new Sky News poll has found.

Some 37% told a YouGov-Sky News poll that Ms Reeves made out things were worse than they really are. This is much higher than the 18% who said she was broadly honest, and the 13% who said things were better than she presented.

This comes in an in-depth look at the public reaction to the budget by YouGov, which suggests widespread disenchantment in the performance of the chancellor.

Just 8% think the budget will leave the country as a whole better off, while 2% think it will leave them and their family better off.

Some 52% think the country will be worse off because of the budget, and 50% think they and their family will be worse off.

This suggests the prime minister and chancellor will struggle to sell last week’s set-piece as one that helps with the cost of living.

Some 20% think the budget worried too much about help for older people and didn’t have enough for younger people, while 23% think the reverse.

The poll found 57% think the chancellor broke Labour’s election promises, while 13% think she did not and 30% are not sure. Some 54% said the budget was unfair, including 16% of Labour voters.

And it arguably gets worse…

This comes as the latest Sky News-Times-YouGov poll showed Labour and the Tories are now neck and neck among voters.

The two parties are tied on 19% each, behind Reform UK on 26%. The Greens are on 16%, while the Liberal Democrats are on 14%.

This is broadly consistent with last week, suggesting the budget has not had a dramatic impact on people’s views.

However, the verdict on Labour’s economic competence has declined further post-budget.

Asked who they would trust with the economy, Labour are now on 10% – lower than Liz Truss, who oversaw the 2022 mini-budget, and also lower than Jeremy Corbyn in the 2019 election.

The Tories come top of the list of parties trusted on the economy on 17%, with Reform UK second on 13%, Greens on 8% and Lib Dems on 5%. Nearly half, 47%, don’t know or say none of them.

Only 57% of current Labour voters say the party would do the best job at managing the economy, falling to 25% among those who voted Labour in the 2024 election.

Some 63% of voters think Ms Reeves is doing a bad job, including 20% of current Labour voters, while just 11% of all voters think she is doing a good job.

A higher proportion – 69% – think Sir Keir Starmer is doing a bad job.

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Pope Leo urges Donald Trump not to try to oust Venezuelan president by force

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Pope Leo urges Donald Trump not to try to oust Venezuelan president by force

The Pope has urged Donald Trump not to try to oust Venezuelan President Nicolas Maduro using military force.

Leo, the first American pontiff, said it would be better to attempt dialogue or impose economic pressure on Venezuela if Washington wants to pursue change there.

The Trump administration has been weighing options to combat what it has portrayed as Mr Maduro’s role in supplying illegal drugs that have killed Americans.

The socialist Venezuelan president has denied having any links to the illegal drug trade.

Pope Leo XIV aboard a flight to Rome. Pic: Reuters
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Pope Leo XIV aboard a flight to Rome. Pic: Reuters

Asked during a news conference about President Trump’s threats to remove Mr Maduro by force, the Pope said: “It is better to search for ways of dialogue, or perhaps pressure, including economic pressure.”

He added that Washington should search for other ways to achieve change “if that is what they want to do in the United States”.

The Pope was speaking as he flew home from a visit to Turkey and Lebanon – his first overseas trip in the role.

Mr Maduro has said Venezuelans are ready to defend their country as the US considers a land attack.

Venezuela's President Nicolas Maduro in Caracas. Pic: Reuters
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Venezuela’s President Nicolas Maduro in Caracas. Pic: Reuters

The president held a rally in Caracas amid heightened tensions with Mr Trump’s administration, which has been targeting what it says are boats carrying drug smugglers.

Mr Trump met his national security team on Monday evening, having warned last week that land strikes would start “very soon”.

It’s not been confirmed what was discussed at the meeting, but White House press secretary Karoline Leavitt told reporters: “There’s many options at the president’s disposal that are on the table – and I’ll let him speak on those.”

US forces have carried out at least 21 strikes on boats it claims were carrying narcotics to its shores over the last few months.

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‘The president has a right to take them out’

Mr Maduro – widely considered a dictator by the West – said on Monday that Venezuelans are ready “to defend [the country] and lead it to the path of peace”.

“We have lived through 22 weeks of aggression that can only be described as psychological terrorism,” he said.

Venezuela has said the boat attacks, which have killed more than 80 people, amount to murder – and that Mr Trump’s true motivation is to oust Mr Maduro and access its oil.

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Maduro says Venezuela ready to defend itself as US considers potential land attack

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Maduro says Venezuela ready to defend itself as US considers potential land attack

Nicolas Maduro has said Venezuelans are ready to defend their country as the US considers a land attack.

The president held a rally in Caracas amid heightened tensions with Donald Trump’s administration, which has been targeting what it says are boats carrying drug smugglers.

Mr Trump met his national security team on Monday evening, having warned last week that land strikes would start “very soon”.

An image of an alleged drug boat being targeted by the US military. Pic: Truth Social
Image:
An image of an alleged drug boat being targeted by the US military. Pic: Truth Social

It’s not been confirmed what was discussed at the meeting, but White House press secretary Karoline Leavitt told reporters: “There’s many options at the president’s disposal that are on the table – and I’ll let him speak on those.”

US forces have carried out at least 21 strikes on boats it claims were carrying narcotics to its shores over the last few months, and the White House has accused Mr Maduro of being involved in the drugs trade – a claim he denies.

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‘The president has a right to take them out’

‘Psychological terrorism’

Mr Maduro – widely considered a dictator by the West – said on Monday that Venezuelans are ready “to defend [the country] and lead it to the path of peace”.

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“We have lived through 22 weeks of aggression that can only be described as psychological terrorism,” he said.

Venezuela has said the boat attacks, which have killed more than 80 people, amount to murder – and that Mr Trump’s true motivation is to oust Mr Maduro and access its oil.

Concerns have been raised over the legality of the US attacks, which the Pentagon has sought to justify by designating the gangs as foreign terror organisations.

Maduro was championed by supporters as he spoke on Monday. Pics: Reuters
Image:
Maduro was championed by supporters as he spoke on Monday. Pics: Reuters

Controversy over US strikes

Tensions remain high over America’s large deployment in the Caribbean Sea and eastern Pacific, which includes its flagship aircraft carrier and thousands of troops.

The US has released videos of boats being blown up but has not provided evidence – such as photos of drugs – to support the smuggling claims.

Controversy also surrounds the first incident, on 2 September, in which 11 people were killed – with a follow-up strike targeting the boat after the first attack left two survivors in the water.

US media reported defence secretary Pete Hegseth gave an order that everyone on board should be killed.

However, there are concerns about the legality of the second strike if the survivors posed no threat.

Mr Hegseth dismissed the reporting as “fake news” and insisted all actions in the region are compliant with US and international law.

“Every trafficker we kill is affiliated with a Designated Terrorist Organization,” he said on X.

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Is US about to go to war with Venezuela?

Mr Trump said on Sunday he would not have wanted a second strike and that Mr Hegseth had denied giving such an order.

Ms Leavitt confirmed on Monday that the boat had been hit by a second strike – but denied Mr Hegseth gave the order for the follow-up.

Instead, she said he had authorised US navy vice admiral Frank Bradley to attack, and the admiral acted “well within his authority and the law, directing the engagement to ensure the boat was destroyed and the threat to the US was eliminated”.

Read more from Sky News:
Hong Kong fire: 13 arrested as death toll hits 151
More than 1,100 confirmed dead in Asia floods

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Trump: Maduro call neither ‘went well or badly’

As the US weighs its next steps, Mr Trump said on Sunday he had spoken to Mr Maduro by phone and that the conversation went neither “well or badly”.

In recent days, he also stated that Venezuela’s airspace should be considered closed – with the South American nation calling it a “colonial threat” and “illegal, and unjustified aggression”.

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