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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
06/13/2026

SBF Appeal Rejected; Pardon Bid Unlikely to Succeed

What happened: The U.

SBF Appeal Rejected; Pardon Bid Unlikely to Succeed

What happened: The U.S. Court of Appeals for the Second Circuit unanimously upheld Sam Bankman-Fried’s (SBF) fraud and conspiracy conviction and 25-year sentence on June 12. The panel described the case against SBF as "robust," rejecting his defense’s arguments about trial evidence. Days earlier, SBF filed a formal pardon request with the Trump administration, but President Trump and the White House have publicly stated a pardon is unlikely.

Why it matters: The ruling closes off nearly all legal avenues for the former FTX CEO, with only long-shot options like an en banc rehearing or Supreme Court petition remaining. The FTT token surged by about 50% after news of the pardon application, highlighting ongoing market volatility tied to SBF’s legal saga. The case continues to serve as a cautionary tale for crypto governance and regulatory oversight.

Source: Decrypt, CoinDesk, Bitcoin.com News