$11.2 billion. 25 years in prison

Bankman-Fried is sentenced to 25 years in prison

From CNN's Lauren del Valle

Sam Bankman-Fried has been sentenced to 25 years in federal prison for defrauding customers and investors in crypto exchange FTX.

In addition to the prison sentence, Kaplan also ordered a forfeiture of $11.2 billion.

However, he said there would be no restitution because it would "impractical" in this case with so many victims.

Judge Lewis Kaplan said he would recommend to the Bureau of Prisons that Bankman-Fried be placed in a medium-security facility or any lower-security facility the bureau finds appropriate.

Medium-security federal prisons have strengthened perimeters — often double fences with electronic detection systems — and mostly cell housing, according to the Bureau of Prisons. They also have a "wide variety of work and treatment programs."

Sam Bankman-Fried's sentence of 25 years puts him at the high end for sentence length in prominent white-collar fraud cases. He faced over 100 years in prison under federal sentencing guidelines.

Ahead of him is Bernard Madoff, who was sentenced to 150 years behind bars for the $20 billion Ponzi scheme he led — the largest financial fraud in history. He died around 12 years into his sentence.

Theranos founder and CEO Elizabeth Holmes, meanwhile, is serving a much shorter sentence than Bankman-Fried. Holmes was convicted on four charges of defrauding investors while running the failed blood-testing startup Theranos. She faced a maximum of 20 years in prison but was sentenced to a little over 11 years. She began serving her sentence in May of last year.

Her counterpart, Ramesh "Sunny" Balwani, the former COO of Theranos and ex-boyfriend of Holmes, was sentenced to nearly 13 years in prison. He also faced up to 20 years.

Bankman-Fried told the court he'd been pained to see FTX's customers suffer.

"It's been excruciating to watch," he said. "Customers don't deserve any of that pain."

As CEO, he was responsible for that pain, he said. But "I'm not the one that matters at the end of the day — it's the customers and employees affected that matter."

Seeming to acknowledge his looming prison sentence, he said: "My useful life is probably over. It's been over for a while now."