|

FTX’s Sam Bankman-Fried Files Appeal to U.S Court in a Bid to Reduce 25-Year Sentence

🇺🇸

Former FTX CEO Sam Bankman-Fried (SBF), presently serving a 25-year prison sentence following his conviction on seven felony costs, has submitted an enchantment to a U.S. court docket searching for to cut back his jail time period.

According to a current scheduling notice from the U.S. Court of Appeals for the Second Circuit, oral arguments for Sam Bankman-Fried’s enchantment are scheduled for November 4, 2025.

This is likely one of the most notable authorized developments since his March 2024 sentencing, when the previous FTX chief government was relocated from a New York City detention facility to one in California for offenses linked to the $8 billion cryptocurrency exchange collapse.

Sam Bankman-Fried Appeal Hearing Set For November 4 In His Battle for Freedom

The Second Circuit listening to had been anticipated since Bankman-Fried’s attorneys filed an enchantment discover in April 2024, difficult his 2023 conviction and 25-year jail time period.

In their September 2024 appeal filing, Bankman-Fried’s authorized representatives contended that the previous CEO was “by no means presumed harmless,” whereas additionally asserting that prosecutors constructed a “deceptive narrative” portraying FTX person funds as completely misplaced.

Meanwhile, a current pinned put up on X by the fallen crypto mogul suggests one other potential argument technique.

The put up outlines his assertion that FTX’s Chapter 11 bankruptcy proceedings had been manipulated by outdoors authorized counsel, with precious asset restoration efforts being marginalized.

SBF claimed that Sullivan & Cromwell and John Ray III seized management of FTX with out his consent, putting authorized charges above buyer pursuits.

If introduced in court docket, this argument may try to redirect consideration from legal intent towards procedural misconduct, constant together with his persistent place that he obtained an unjust trial.

Bankman-Fried’s case featured a number of the most critical legal allegations towards a distinguished cryptocurrency government to date.

If the enchantment court docket overturns the decrease court docket’s choice, it may end result in a new trial or resentencing continuing for SBF.

However, reversing such a high-profile conviction might be difficult, notably given the damaging testimony from former FTX executives, together with Caroline Ellison and Gary Wang.

After Bankman-Fried’s trial and sentencing, the U.S. District Court for the Southern District of New York performed sentencing proceedings for 4 of SBF’s former associates.

Ex-Alameda Research CEO Caroline Ellison (additionally SBF’s former romantic accomplice), who entered a responsible plea throughout Bankman-Fried’s trial, received a two-year prison sentence in September 2024.

Her anticipated launch date is March 2026.

FTX co-founder Gary Wang and former FTX engineering director Nishad Singh, who additionally testified for the prosecution, had been each sentenced to time already served.

SBF’s Republican Pivot Sparks Trump Pardon Speculation While FTX Customers Still Await Full Justice

Beyond his enchantment, SBF seems to be inspecting different routes to freedom.

In March, the previous government participated in an interview with Tucker Carlson, throughout which he alluded to embracing Republican viewpoints, sparking hypothesis about potential pardon-seeking from Donald Trump.

Although SBF didn’t instantly request an executive pardon, the timing attracted consideration, notably given Trump’s earlier pardon of Silk Road founder Ross Ulbricht, one other contentious cryptocurrency determine.

More not too long ago, a legal filing submitted to the U.S. Bankruptcy Court for the District of Delaware on September 9 signifies that Three Arrows Capital’s (3AC) joint liquidators plan to depose Bankman-Fried underneath Federal Rules of Civil Procedure Rule 45.

The deposition is ready for October 14, 2025, on the Federal Correctional Institution in Terminal Island, California, the place Bankman-Fried is presently jailed..

This motion stems from allegations by 3AC co-founder Zhu Su, who maintains that Bankman-Fried liquidated $1.5 billion of their holdings with out ample justification.

Zhu additional alleges that Ryan Salame leveraged insider data to front-run trades towards shopper positions, finally extracting over $1 billion earlier than FTX’s collapse.

Ellison, who managed Alameda Research through the interval of those alleged actions, can also be anticipated to face questioning relating to the interconnected buying and selling and liquidation ways which will have contributed to 3AC’s insolvency.

Meanwhile, quite a few FTX clients proceed ready for compensation.

To date, over $6.5 billion has been distributed to collectors, with an extra $1.9 billion in funds anticipated this September.

However, roughly $1.4 billion in claims stay unresolved due to KYC compliance, jurisdictional points, and sanctions-related issues.

The put up FTX’s Sam Bankman-Fried Files Appeal to U.S Court in a Bid to Reduce 25-Year Sentence appeared first on Cryptonews.

Similar Posts