FTX Founder Sam Bankman-Fried Loses Appeal, Awaits Pardon Decision

The U.S. Second Circuit Court of Appeals rejected the criminal conviction appeal of FTX founder Sam Bankman-Fried (SBF) in June. SBF, who was sentenced to 25 years in prison in March 2026 for fraud, faces an $11 billion forfeiture order. The Senate voted unanimously against granting him a pardon in July, and he is not eligible for early release until approximately 2044.