Sam Bankman-Fried

Sam Bankman-Fried, founder of the collapsed crypto exchange FTX, is appealing his fraud conviction, arguing his trial was “fundamentally unfair.” His attorney claims court rulings improperly limited his testimony, skewing the proceedings. Judges questioned the evidence of guilt and the impact of additional testimony. A key argument centers on whether FTX creditors have, or will be, fully compensated, potentially undermining the prosecution’s narrative of irreparable financial losses. The appeals court is scrutinizing the $11 billion forfeiture order and its implications for victim compensation. The decision will have significant consequences for Bankman-Fried and the wider crypto industry.