FTX Founder Sam Bankman-Fried's Fraud Conviction Upheld by Appeals Court

A federal appeals court has upheld the fraud conviction of FTX founder Sam Bankman-Fried, according to Reuters.

Bankman-Fried was convicted of running one of the largest financial frauds in history, involving his crypto-exchange FTX. He was also convicted of money laundering and is currently in prison.

Judge Barrington Parker wrote in the appeals ruling that "the government's evidence against him was, conservatively stated, robust." Bankman-Fried and his team still have the option to bring the appeal to higher courts, including the Supreme Court.

All told, he faced seven charges and was found guilty of each and every one. The disgraced crypto mogul was sentenced to 25 years in prison back in 2024. Since that time, he's been fighting to overturn the ruling in a variety of ways.

There's the aforementioned appeal, which was just denied. Bankman-Fried is also seeking a re-trial on the grounds that new witness testimony could alter the case made against him by prosecutors. He seeks to represent himself in this re-trial, though it's highly unlikely to happen.

He is also trying to play the card of every rich grifter forced to face the music: application for an official pardon from President Trump. The president suggested earlier this year that he wouldn't pardon Bankman-Fried, but he also had to be reminded who he was. The status of his request is currently listed as "pending," per the Department of Justice's website.

The White House has been pretty free with pardons in the crypto space. Apropos of nothing, the Trump family has a crypto business of its own, which has netted the family over $2 billion since he took office in 2025. There's no real way to see who has invested in Trump's crypto memecoin.