Sam Bankman-Fried’s Last Lifelines Are Gone: Court Makes 25-Year Sentence Official

TLDR

• The US Court of Appeals for the Second Circuit issued a formal mandate upholding SBF’s conviction and 25-year sentence.
• Three circuit judges rejected his claim that FTX investors could have been made whole with no losses.
• The court also upheld an $11 billion forfeiture order tied to the criminal case.
• With the mandate now official, SBF has very few legal options left to seek early release.
• A presidential pardon appears unlikely, and the US Senate unanimously voted against clemency last month.

Former FTX CEO Sam Bankman-Fried is running out of legal options after a US appeals court made its ruling against him official.

JUST IN: US appellate court affirms Sam Bankman-Fried conviction. If upheld, this reinforces accountability around leadership at failed exchanges and could impact risk sentiment around crypto executives and governance. $BTC $ETH pic.twitter.com/BOYnOcPVSY

- Bpay News (@bpaynews) August 6, 2026

The US Court of Appeals for the Second Circuit issued a formal mandate on Tuesday, following its June 12 ruling. The mandate affirms the lower court’s decision convicting Bankman-Fried on seven felony counts and sentencing him to 25 years in federal prison.

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