Sam Bankman-Fried, the embattled former chief executive officer of the bankrupt cryptocurrency exchange FTX, has lodged a notice of appeal against his 25-year sentence.
The appeal, filed in a New York court, contests his conviction on multiple felony charges and requests his stay at a Brooklyn detention center for easier access to his lawyers.
Bankman-Fried’s defense points to his Autism Spectrum Disorder and future charitable aspirations, amid FTX’s ongoing asset liquidation to repay customers.
The case’s outcome could influence the regulatory landscape for digital assets and set precedents for legal accountability within the cryptocurrency sector.
Bankman-Fried’s legal team, spearheaded by attorney Alexandra Shapiro, submitted the appeal to the United States District Court for the Southern District of New York on Thursday.
The defense is challenging the legitimacy of the conviction, which includes seven felony counts, handed down by Judge Lewis Kaplan.
The appeal also highlights the unsatisfactory conditions at the Metropolitan Detention Center, particularly concerning Bankman-Fried’s dietary needs.
The appeal’s review will be conducted by the Second Circuit Court of Appeals, which will determine the fate of the conviction and could order a retrial.
Sam Bankman-Fried was arrested in the Bahamas and extradited to the U.S., where he was convicted in November 2023. FTX filed for bankruptcy in November 2022 after the balance sheet of Alameda Research, its sister trading firm, revealed liquidity issues.