Disgraced FTX founder Sam Bankman-Fried is pursuing a new trial to challenge his 25-year prison sentence, though his legal team encountered significant judicial skepticism during recent appellate proceedings. During oral arguments before the Second Circuit Court of Appeals, judges appeared unconvinced by defense counsel’s assertions that procedural errors and evidential issues warranted overturning the conviction.
The three-judge panel repeatedly questioned the foundation of defense arguments, particularly regarding trial conduct and sentencing considerations. Legal observers noted the appellate judges’ pointed inquiries suggested substantial doubts about the merits of the appeal. This development represents another setback for the former cryptocurrency executive, who was convicted on multiple fraud charges related to the collapse of his cryptocurrency exchange and hedge fund.
Bankman-Fried’s legal team maintains that their client deserves a retrial based on what they characterize as prejudicial errors in the original proceedings. However, the appellate court’s reaction indicates an uphill battle for the defense. The case continues to draw significant attention from financial regulators and digital asset industry participants, serving as a landmark proceeding in cryptocurrency fraud litigation. A decision from the appeals court is expected in the coming months.
