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Sam Bankman-Fried appeal set for Nov. 4 in US court. Ex-FTX CEO challenges 25-year sentence, raising chance of retrial or new sentencing.
Author: Akshat Thakur
September 12, 2025 — The Sam Bankman-Fried appeal is moving forward, with the US Court of Appeals for the Second Circuit scheduling oral arguments for November 4. The former FTX CEO is currently serving a 25-year prison sentence for his role in the collapse of the exchange.
The Sam Bankman-Fried appeal stems from his April 2024 notice challenging his 2023 conviction and lengthy sentence. His legal team filed arguments in September 2024, claiming prosecutors had created a “false narrative” that misled jurors into believing FTX customer funds were permanently lost.
The appellate case marks the first significant development since Bankman-Fried’s transfer from New York to the Federal Correctional Institution at Terminal Island, California, in March 2025.
A jury convicted Bankman-Fried on seven felony counts, including fraud and conspiracy, following the FTX collapse in November 2022. Once valued at tens of billions, the exchange spiraled into bankruptcy after severe liquidity issues. Several executives, including Alameda Research CEO Caroline Ellison, struck plea deals, but Bankman-Fried pleaded not guilty and proceeded to trial.
The court initially allowed Bankman-Fried to stay at his parents’ home in California under bail, but it revoked his bond in August 2023 after allegations that he attempted to intimidate witnesses.
The FTX saga continues to unfold:
The Bankman-Fried appeal could reshape how the high-profile case concludes, depending on whether the Second Circuit orders a retrial or resentencing.
In parallel, speculation persists that Bankman-Fried may seek a pardon from President Donald Trump. After taking office in January 2025, Trump granted clemency to Silk Road founder Ross Ulbricht. Whether Bankman-Fried could secure similar consideration remains uncertain, though reports suggest he has shifted political alignment to appeal to Republican leadership.
The court has set Sam Bankman-Fried’s appeal for November 4, marking a pivotal moment in one of crypto’s most high-profile criminal cases. The outcome could reshape both his legal fate and the broader narrative surrounding the FTX collapse.
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