Sam Bankman-Fried Just Lost His Appeal at the Second Circuit, His 25-Year Sentence Stands, and the FTX Customer Recovery Has Officially Crossed Into the Repayme... (opens in new tab)

A three-judge panel of the Second United States Circuit Court of Appeals issued a unanimous decision on Friday rejecting Sam Bankman-Fried's appeal of his seven-count fraud conviction and 25-year prison sentence, leaving him eligible for release in 2044, ratifying the trial-court evidentiary rulings, ending the trial-phase legal architecture of the FTX collapse and transitioning the case into the repayment-phase recovery cycle that the FTX bankruptcy estate has been working through.