Bankman-Fried Appeals $11 Billion Forfeiture to Supreme Court
- Sam Bankman-Fried, co-founder of FTX, is serving a 25-year sentence for fraud, conspiracy, and money laundering.
- His appeal to the Second Circuit was denied in June 2026, based on the Supreme Court’s Kousisis ruling from 2025.
- Bankman-Fried’s legal team argues that evidence showing FTX and Alameda Research could cover customer shortfalls was improperly excluded at trial.
- The $11 billion forfeiture order is claimed to violate the Eighth Amendment’s excessive fines clause.
- A presidential pardon request was rejected by President Donald Trump and opposed by the U.S. Senate in a bipartisan resolution.
The Supreme Court will decide later in the year whether to hear Bankman-Fried’s case, which challenges both his conviction and the significant financial penalties imposed on him. The outcome could redefine legal interpretations of wire fraud within cryptocurrency contexts.
If certiorari is denied, Bankman-Fried’s conviction and sentence remain intact, concluding his direct appeals process. However, if granted, it may have broader implications beyond crypto law enforcement practices. (Source)
