FTX Founder SBF Loses Appeal, Awaits Final Ruling on Pardon

TechFlow reports that on September 12, according to CoinDesk, the legal proceedings involving FTX founder Sam Bankman-Fried are reaching their final chapter. SBF, who was sentenced to 25 years in prison in March 2026 on multiple fraud charges, had his criminal conviction appeal rejected by the U.S. Court of Appeals for the Second Circuit in June of that year. Earlier in April, he attempted to file a motion for a new trial citing an inability to receive a fair trial, but ultimately chose to temporarily withdraw it, preserving the option to submit it again at a later date.

The future of the case now hinges on the final outcome of his pardon application. The Senate voted unanimously in July this year against granting clemency to SBF. Even while incarcerated in a federal prison, he remains subject to an asset forfeiture order exceeding $11 billion, and under current sentencing guidelines, he will not be eligible to apply for early release until around 2044 at the earliest.