Story perspectives

Appeals Court Upholds SBF's 25-Year Sentence, $8B Fraud

6/14/2026

Summary

Bankman-Fried Appeal Denied

Court of Appeals rejected Sam Bankman-Fried’s bid to overturn his conviction and 25-year sentence.
Panel called the case “conservatively stated, robust” and said he stole over $8 billion from FTX customers.
Judge Lewis Kaplan sentenced him in March 2024 after November 2023 jury conviction on fraud and conspiracy counts.
He applied for a pardon from U.S. President Donald Trump in June and remains in prison near Santa Barbara, California, with release in 2044.

Summary

FTX Execs Sentenced

A court ordered an $11 billion forfeiture and three years of supervised release in March 2024 sentencing.
Three former FTX executives pleaded guilty, with Caroline Ellison receiving two years in prison and the others avoiding jail.
The FTX bankruptcy estate recovered enough crypto assets to repay creditors at over 100 cents on the dollar, prompting regulators to mandate proof-of-reserves audits across major digital-asset platforms.
President Donald Trump reiterated in January not pardoning Bankman-Fried.

Summary

Bankman-Fried Pardon Surge

FTT, FTX’s native token, jumped about 50 % intraday after the June 8, 2026 pardon filing was disclosed.
Polymarket odds that President Donald Trump will pardon Sam Bankman-Fried rose to 20 %–35 % after the filing.
Drake urged Bankman-Fried’s release at his album launch, while Bankman-Fried said on Fox Business he is “absolutely” seeking a pardon.

Summary

Bankman-Fried Pardon

Sam Bankman-Fried’s pardon application references the obscure “game recognize game” provision and is listed as pending by DOJ records.
He seeks a new trial, citing witness testimony and asking to represent himself.
Judge Barrington Parker authored the appellate opinion.
U.S. President Donald Trump faces a New York fraud judgment and a federal indictment for conspiracy to defraud the United States, while his family’s crypto venture has earned $2 billion since 2025.

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Bankman-Fried Appeal Denied

Court of Appeals rejected Sam Bankman-Fried’s bid to overturn his conviction and 25-year sentence.
Panel called the case “conservatively stated, robust” and said he stole over $8 billion from FTX customers.
Judge Lewis Kaplan sentenced him in March 2024 after November 2023 jury conviction on fraud and conspiracy counts.
He applied for a pardon from U.S. President Donald Trump in June and remains in prison near Santa Barbara, California, with release in 2044.

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