Sam Bankman-Fried, former FTX chief, lost his appeal to overturn a 25-year prison sentence. A federal appeals court upheld his conviction. His bid for clemency from President Trump faces tough odds.
A federal appeals court has confirmed the conviction of Sam Bankman-Fried, the former head of the cryptocurrency exchange FTX. This means his 25-year prison sentence will stand. Bankman-Fried had tried to challenge his original conviction and the length of his sentence, but his efforts were unsuccessful. Furthermore, his legal team's attempt to seek a pardon, or clemency, from President Donald Trump seems unlikely to succeed. Experts believe this move faces significant political challenges, making a presidential intervention very improbable for the disgraced crypto founder.
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