Sam Bankman-Fried prepares to appeal: Will the 25-year sentence change?

Former FTX CEO, Sam Bankman-Fried (#SBF ), will have an appeal hearing on November 4, nearly two years after he was sentenced to 25 years in prison for charges related to the collapse of the FTX exchange in 2023.

According to a notice from the Second Circuit Court of Appeals, the court will consider whether there were legal errors or serious procedural flaws in the previous trial, which could lead to the reversal of the conviction or the reopening of the case.

The 102-page appeal filed by SBF's lawyers in April 2024 argues that the judge was "biased" and viewed their client as "guilty from the start." Additionally, the lawyers also accused prosecutors of constructing a "false narrative," leading public opinion to believe that all customer and investor funds had been lost.

Meanwhile, the bankruptcy fund #FTX has begun the process of distributing $16.5 billion in recovered assets to creditors since the beginning of the year, indicating that the losses are not entirely as stated in the previous trial.

The appeal developments of SBF will continue to be closely monitored by crypto investors, as it could impact the legal perception of major cases in the industry.

⚠️ Note: Crypto investment always comes with high risks. Investors need to be cautious of legal and market fluctuations. #anhbacong