SBF Asks U.S. Supreme Court to Vacate Fraud Conviction, Seek New Trial, and Reverse $11 Billion Forfeiture
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SBF's appeal to the U.S. Supreme Court seeks a new trial and challenges the $11B forfeiture as an excessive fine, focusing on evidentiary rulings and whether profits could offset customer losses. While not directly altering crypto market structure, the case can affect perceived regulatory and legal risk around major exchange failures, briefly influencing sentiment and risk appetite across large-cap crypto.
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FTX founder Sam Bankman-Fried (SBF) has petitioned the U.S. Supreme Court for relief, seeking a new trial and the reversal of a prior court order directing forfeiture of about $11 billion in assets, according to Odaily Planet Daily citing CNN. Bankman-Fried was sentenced in 2024 to 25 years in prison.
The filing centers on trial-process disputes, including how evidence was presented and whether he should have been allowed to introduce material indicating that certain affiliated investments ultimately produced profits that could have offset customer losses at FTX. Bankman-Fried also contends the $11 billion forfeiture breaches the Eighth Amendment’s ban on excessive fines.
