‘Crypto King’ Sam Bankman-Fried jailed for 25 years

Bankman-Fried arrived in court shortly after 09:40 New York time (13:40 GMT) in a baggy beige prison jumpsuit.

The weight he has lost behind bars is visible and his distinctive curly hair, cut short for trial, has returned.

The crowd in the packed overflow room on the 26th floor instantly quieted, expecting proceedings to begin shortly.

The line of onlookers included family and friends, as well as customers who have lost access to millions following the collapse of FTX – including Sunil Kavuri.

Though he has been one of the most vocal victims, he chatted with SBF’s parents while waiting.

He told me afterwards that SBF’s father, Joseph Bankman, was eager to note that money would be recovered in the bankruptcy.

Kavuri does not share that view, but he believes Bankman-Fried is being made a scapegoat for problems at FTX for which the responsibility is more widely shared.

Both Kavuri and SBF have blamed Sullivan and Cromwell – the law firm that advised FTX before its failure and continues to work on its bankruptcy – for the failure of the cryptocurrency exchange.