Appeals court upholds Sam Bankman-Fried's 25-year sentence, rejecting bid for new trial in landmark FTX fraud case

98% of FTX creditors being lined up for up to 118% of allowed USD claims never cleaned up the criminal case; BTC, SOL, and ETH balances were frozen at petition-date prices while the estate monetized Anthropic and other venture bags. The appeals loss preserves the hard line after Celsius, Voyager, and BlockFi: a bull-market recovery cannot retroactively sanitize customer-fund rehypothecation. The path left is political clemency, with SBF’s pardon push now doing more work than his “FTX was solvent” appeal theory.

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More coverage

• Trial of Sam Bankman-Fried - Wikipedia (en.wikipedia.org)
• Bankman-Fried appeals 25-year fraud conviction in crypto case (thedailyrecord.com)
• Sam Bankman-Fried's Retrial Request Faces Skeptical Appeals ... (businessinsider.com)
• Samuel Bankman-Fried Sentenced to 25 Years for His Orchestration ... (justice.gov)
• Sam Bankman-Fried asks Second Circuit for retrial of FTX fraud case (courthousenews.com)

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