Summary
- Sam Bankman-Fried, the founder of FTX, is scheduled to have an appeal hearing at the United States Court of Appeals this November.
- Following the FTX incident, Bankman-Fried was sentenced to 25 years in prison for $11 billion fraud; his legal team is preparing an appeal, objecting to the way evidence was handled.
- CoinQ assessed that the result of this appeal hearing could affect not only Sam Bankman-Fried’s sentence but also FTX creditor claims.
Sam Bankman-Fried (SBF), the founder of FTX and the main figure behind the downfall that shocked the virtual asset (cryptocurrency) market, is set to have an appeal hearing.
According to CoinQ, a media outlet specializing in virtual assets, Sam Bankman-Fried's appeal hearing will take place this November at the United States Court of Appeals.
Bankman-Fried, who was convicted of seven charges including fraud and conspiracy in 2023, was sentenced to 25 years in prison in March 2024 for organizing a fraud scheme amounting to $11 billion. Currently, his legal team is reportedly preparing an appeal, objecting to the way evidence was handled.
CoinQ commented, "Depending on the outcome of this appeal hearing, Bankman-Fried’s sentence may change, and furthermore, it could affect FTX creditor claims as well."
Uk Jin
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