Former cryptocurrency entrepreneur Sam Bankman-Fried, who was convicted of fraud, has been sentenced to 25 years in prison.
New York judge Lewis Kaplan announced his decision on Thursday, US media reported from the courtroom.
Lawyers for the 32-year-old founder of cryptocurrency exchange FTX have been considering an appeal since his conviction in November.
Kaplan's sentence fell between the expectations of the prosecution, which had requested 40 to 50 years in prison, and the defence, which had proposed around six years in prison.
If Kaplan had utilized the proposed sentences for all charges, Bankman-Fried would have faced more than 100 years in prison.
FTX, one of the largest trading centres for cryptocurrencies such as Bitcoin, collapsed spectacularly at the end of 2022. Bankman-Fried was detained in the Bahamas and extradited to the US.
While the cryptocurrency business can be complicated, Bankman-Fried was ultimately charged with classic fraud: Embezzlement of client assets.
Bankman-Fried was also behind a hedge fund called Alameda Research, which made risky transactions and borrowed funds from FTX when collateral should in fact have been deposited.
There were also computer systems that were supposed to take care of this, but the software made a secret exception for Alameda, which allowed the hedge fund to go as far into the red as it wanted with FTX. When the Alameda trades went wrong, there was a multibillion-dollar hole in FTX's coffers.