In a pivotal hearing before the US Federal Appeals Court, judges expressed skepticism over arguments presented by lawyers for Sam Bankman-Fried, the disgraced former cryptocurrency tycoon, who is seeking to overturn his fraud conviction and secure a new trial. Bankman-Fried’s defense team, led by attorney Alexandria Shapiro, argued that the initial trial was “fundamentally unfair,” claiming that Judge Lewis Kaplan improperly restricted Bankman-Fried’s testimony, thereby favoring prosecutors. Shapiro contended that the prosecution’s narrative was “morally compelling” but misleading, emphasizing that nearly all FTX creditors had been repaid 120% of their investments, with $8 billion already returned and an additional $1 billion in legal fees covered. Bankman-Fried’s legal team also argued that key evidence supporting his claim that FTX had sufficient funds to cover customer withdrawals was excluded, rendering the verdict unjust. However, the appellate judges appeared unconvinced, with one noting “very substantial evidence of guilt” in the trial record. Judge Barrington Parker questioned whether the jury’s verdict would have differed even if Bankman-Fried had been allowed to testify about his lawyers’ involvement in drafting certain documents. Bankman-Fried, once hailed as a billionaire cryptocurrency mogul and founder of FTX and Alameda Research, saw his empire crumble when it was revealed he had misused billions in customer funds to cover losses, finance political donations, and support personal and corporate spending. In March 2024, he was sentenced to 25 years in prison, three years of supervised release, and ordered to forfeit $11 billion after being convicted on seven charges, including wire fraud, securities fraud, and money laundering. Prosecutors described his actions as one of the largest financial frauds in US history, with Judge Kaplan condemning his “exceptional greed and disregard for the truth.” Meanwhile, reports suggest Bankman-Fried’s inner circle has lobbied former President Donald Trump for a pardon, though it remains unclear whether Trump is considering the request.