U.S. appeals court upholds FTX founder's 25-year sentence (opens in new tab)

A three-judge panel of the New York-based 2nd U.S. Circuit Court of Appeals upheld Sam Bankman-Fried's fraud conviction and 25-year prison sentence on June 12 in the case stemming from the collapse of FTX, the cryptocurrency exchange he founded. Bankman-Fried, once one of the cryptocurrency sector's most influential figures, was convicted by a Manhattan federal jury in 2023 on seven felony counts after prosecutors said he stole or misappropriated about $8 billion from FTX customers. The appea...