Published Fri, Jun 12, 2026 · 09:39 PM

[NEW YORK] Sam Bankman-Fried lost on Friday (Jun 12) his bid to overturn his fraud conviction and 25-year prison sentence over the collapse of the FTX cryptocurrency exchange he founded.

The decision was handed down by a three-judge panel of the Manhattan-based 2nd US Circuit Court of Appeals.

Bankman-Fried, who had been one of the cryptocurrency sector’s most influential figures and a multibillionaire before FTX’s spectacular collapse in 2022, was found guilty on seven felony charges by a federal jury in Manhattan in 2023.

Prosecutors with the Manhattan US Attorney’s office said he stole US$8 billion from FTX customers in what they termed a “fraud of epic proportions.”

Bankman-Fried had…