Cointelegraph·2d ago·negative

Sam Bankman-Fried loses appeal to overturn 25-year prison sentence

A federal appeals court upheld Sam Bankman-Fried's fraud conviction and 25-year sentence for stealing FTX customer funds. His separate bid for a presidential pardon from Donald Trump faces steep political odds.

The 2nd US Circuit Court of Appeals unanimously rejected Bankman-Fried's appeal, calling the government's case 'robust'
Judge Parker wrote that SBF used FTX as 'his own personal piggy bank' for real estate, political donations, and investments
Bankman-Fried has formally applied for a Trump pardon, but Trump told the NYT in January he had no plans to grant one
Trump has shown willingness to pardon crypto figures — he freed Silk Road's Ross Ulbricht in January 2025

regulationpeopleImpact 7/10

Why our editor rated this negative

The story is negative for the crypto industry — a high-profile fraud conviction upheld, reinforcing the FTX collapse narrative. However, the pardon angle adds a slight political dimension.

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