The sentencing hearing for Bankman-Fried is slated for March 28, with prosecutors pushing for a 40- to 50-year prison term, citing his alleged misappropriation of customer funds. The former CEO of the now-defunct cryptocurrency exchange FTX, Sam Bankman-Fried's successor John Ray has made a striking statement regarding Bankman-Fried's claims of innocence. Bankman-Fried stands convicted of embezzling $8 billion from FTX customers, a charge he vehemently denies. As reported by Reuters, addressing the issue in a victim impact statement submitted to the Manhattan federal court, Ray expressed scepticism over Bankman-Fried's assertions, stating, "Mr. Bankman-Fried continues to live a life of delusion."