Sam Bankman-Fried Appeals FTX Conviction to Supreme Court

Sam Bankman-Fried has asked the US Supreme Court to review his FTX fraud conviction and an $11.02 billion forfeiture order. The petition was filed on 10 September 2026, after the Second Circuit upheld his conviction and sentence on 12 June. The former FTX chief executive is serving a 25-year prison sentence for wire fraud, conspiracy and money laundering. His lawyers argue that the trial court allowed prosecutors to highlight customer losses but blocked evidence that FTX and Alameda Research had enough assets to repay customers. They also claim the forfeiture violates the Eighth Amendment’s ban on excessive fines. The appeal follows an earlier ruling that relied on the Supreme Court’s 2025 decision in Kousisis v. United States. The Supreme Court accepts only about 1% to 2% of petitions, so the FTX appeal faces a low chance of success. The court could decide later in 2026 whether to hear the case. Bankman-Fried has also applied for a presidential pardon. Meanwhile, FTX’s bankruptcy process is expected to repay customers with interest, but that recovery has not changed the conviction or sentence. Former Alameda chief executive Caroline Ellison received a two-year sentence after cooperating with prosecutors, while other former FTX executives received lighter penalties. For crypto traders, the Bankman-Fried appeal is mainly a legal and reputational development. It is unlikely to move Bitcoin or other major cryptocurrencies in the short term. A Supreme Court review or major ruling could affect sentiment around FTX-related assets, exchange regulation and creditor recoveries.