Former FTX CEO Sam Bankman-Fried (SBF), currently serving a 25-year prison sentence following his conviction on seven felony charges, has submitted an appeal to a U.S. court seeking to reduce his jail term.
According to a recent scheduling notice from the U.S. Court of Appeals for the Second Circuit, oral arguments for Sam Bankman-Fried’s appeal are scheduled for November 4, 2025.
This is one of the most notable legal developments since his March 2024 sentencing, when the former FTX chief executive was relocated from a New York City detention facility to one in California for offenses connected to the $8 billion cryptocurrency exchange collapse.
Sam Bankman-Fried Appeal Hearing Set For November 4 In His Battle for Freedom
The Second Circuit hearing had been anticipated since Bankman-Fried’s attorneys filed an appeal notice in April 2024, challenging his 2023 conviction and 25-year prison term.
In their September 2024 appeal filing, Bankman-Fried’s legal representatives contended that the former CEO was “never presumed innocent,” while also asserting that prosecutors constructed a “misleading narrative” portraying FTX user funds as permanently lost.
Meanwhile, a recent pinned post on X by the fallen crypto mogul suggests another potential argument strategy.
The post outlines his assertion that FTX’s Chapter 11 bankruptcy proceedings were manipulated by outside legal counsel, with valuable asset recovery efforts being marginalized.
SBF claimed that Sullivan & Cromwell and John Ray III seized control of FTX without his consent, placing legal fees above customer interests.
If presented in court, this argument could attempt to redirect attention from criminal intent toward procedural misconduct, consistent with his persistent position that he received an unjust trial.
Bankman-Fried’s case featured some of the most serious criminal allegations against a prominent cryptocurrency executive to date.
If the appeal court overturns the lower court’s decision, it could result in a new trial or resentencing proceeding for SBF.
However, reversing such a high-profile conviction will be challenging, particularly given the damaging testimony from former FTX executives, including Caroline Ellison and Gary Wang.
After Bankman-Fried’s trial and sentencing, the U.S. District Court for the Southern District of New York conducted sentencing proceedings for four of SBF’s former associates.
Ex-Alameda Research CEO Caroline Ellison (also SBF’s former romantic partner), who entered a guilty plea during Bankman-Fried’s trial, received a two-year prison sentence in September 2024.
Her expected release date is March 2026.
FTX co-founder Gary Wang and former FTX engineering director Nishad Singh, who also testified for the prosecution, were both sentenced to time already served.
SBF’s Republican Pivot Sparks Trump Pardon Speculation While FTX Customers Still Await Full Justice
Beyond his appeal, SBF appears to be examining alternative routes to freedom.
In March, the former executive participated in an interview with Tucker Carlson, during which he alluded to embracing Republican viewpoints, sparking speculation about potential pardon-seeking from Donald Trump.
Although SBF did not directly request an executive pardon, the timing attracted attention, particularly given Trump’s previous pardon of Silk Road founder Ross Ulbricht, another contentious cryptocurrency figure.
More recently, a legal filing submitted to the U.S. Bankruptcy Court for the District of Delaware on September 9 indicates that Three Arrows Capital’s (3AC) joint liquidators plan to depose Bankman-Fried under Federal Rules of Civil Procedure Rule 45.
The deposition is set for October 14, 2025, at the Federal Correctional Institution in Terminal Island, California, where Bankman-Fried is presently jailed..
This action stems from allegations by 3AC co-founder Zhu Su, who maintains that Bankman-Fried liquidated $1.5 billion of their holdings without adequate justification.
Zhu further alleges that Ryan Salame leveraged insider knowledge to front-run trades against client positions, ultimately extracting over $1 billion before FTX’s collapse.
Ellison, who managed Alameda Research during the period of these alleged activities, is also anticipated to face questioning regarding the interconnected trading and liquidation tactics that may have contributed to 3AC’s insolvency.
Meanwhile, numerous FTX customers continue waiting for repayment.
To date, over $6.5 billion has been distributed to creditors, with an additional $1.9 billion in payments anticipated this September.
However, approximately $1.4 billion in claims remain unresolved due to KYC compliance, jurisdictional issues, and sanctions-related complications.
The post FTX’s Sam Bankman-Fried Files Appeal to U.S Court in a Bid to Reduce 25-Year Sentence appeared first on Cryptonews.
