article Sam Bankman-Fried Fights Back: Appeal Set to Challenge 25-Year Sentence

Sam Bankman-Fried, the former head of collapsed crypto exchange FTX, is attempting to cut down his 25-year prison sentence by filing an appeal with the U.S. Court of Appeals for the Second Circuit. His hearing has now been officially scheduled for November 4, 2025.

From Conviction to Appeal

Bankman-Fried, once seen as one of the most influential figures in digital assets, was sentenced in March 2024 after being found guilty on seven felony counts tied to the $8 billion FTX collapse. Following sentencing, he was transferred from New York to a correctional facility in California.

The upcoming appeal represents one of the most significant developments since that verdict. His legal team has been pushing for a review since April 2024, claiming his trial was fundamentally unfair.

Defense Arguments

In a September 2024 filing, his attorneys argued that Bankman-Fried was “never presumed innocent” and that prosecutors painted an overly dramatic and misleading picture, framing FTX customer funds as irretrievably gone.

Adding to the defense’s strategy, a pinned post from Bankman-Fried himself outlined claims that FTX’s Chapter 11 bankruptcy process was mishandled.

According to him, outside law firms and restructuring chief John Ray III pushed their own agenda—prioritizing legal fees and control of the exchange over customer interests. If introduced in court, this narrative could be used to shift the case from criminal wrongdoing to alleged procedural misconduct.

Tough Odds Ahead

While a successful appeal could lead to either a new trial or resentencing, experts warn that reversing such a high-profile conviction will be extremely difficult. The jury heard damaging testimony from Bankman-Fried’s closest associates, including Caroline Ellison and Gary Wang, which heavily influenced the outcome.

Ellison, former CEO of Alameda Research and once romantically linked to Bankman-Fried, pleaded guilty and received a two-year prison sentence in September 2024, with release expected in March 2026.
Meanwhile, Gary Wang and former engineering director Nishad Singh were given time served sentences after cooperating with prosecutors.

Political Maneuvers and Speculation

Beyond the legal battlefield, Bankman-Fried has taken steps that some view as political positioning. In March, he sat down with Tucker Carlson and hinted at adopting Republican-aligned views—prompting speculation he may seek a presidential pardon from Donald Trump.

The idea gained traction given Trump’s controversial pardon of Silk Road founder Ross Ulbricht. Still, SBF has not explicitly requested such a pardon.

Adding further complexity, a September 9 filing in the U.S. Bankruptcy Court in Delaware revealed that liquidators of Three Arrows Capital (3AC) intend to depose Bankman-Fried under Rule 45 of the Federal Rules of Civil Procedure.

What Comes Next?

As the November 4 appeal date approaches, the spotlight will once again turn to Bankman-Fried, who remains at the center of one of the most infamous financial collapses in modern history. If the court sides with his defense, it could reshape not only his future but also broader perceptions of accountability in the crypto industry.