If the former crypto billionaire loses all remaining avenues, he would be eligible for release in 2044.

Former crypto tycoon Sam Bankman-Fried has lost his bid to overturn his fraud conviction and 25-year prison sentence over the collapse of the FTX cryptocurrency exchange he founded.

In a unanimous decision on Friday, a three-judge panel of the Manhattan-based 2nd United States Circuit Court of Appeals said prosecutors’ evidence against Bankman-Fried “was, conservatively stated, robust”.

“While he was publicly reassuring customers, investors and regulators that FTX customer funds were safe, he was simultaneously using FTX as his own personal piggy…