Catenaa, Monday, September 14, 2026- Former FTX chief Sam Bankman-Fried has asked the US Supreme Court to overturn his fraud conviction, arguing that trial restrictions prevented him from presenting evidence he says was central to his defense.
Bankman-Fried is serving a 25-year prison sentence after a federal jury convicted him in 2023 on seven counts of fraud and conspiracy linked to the collapse of cryptocurrency exchange FTX.
His lawyers are also challenging an approximately $11 billion forfeiture order, arguing that it violates the Eighth Amendment prohibition on excessive fines.
The Supreme Court must first decide whether to hear the case.
The court receives thousands of petitions each year and accepts only a small number for full review.
Bankman-Fried’s petition follows a June ruling by a three-judge panel of the US Court of Appeals for the Second Circuit that upheld his conviction.
His defense argues that the trial court improperly limited evidence concerning FTX’s assets and the eventual recovery available to customers through bankruptcy proceedings.
Bankman-Fried has maintained that FTX and affiliated trading firm Alameda Research held sufficient assets to repay customers.
His lawyers contend that evidence about those recoveries was relevant to whether he intended to defraud customers and whether losses were as severe as prosecutors claimed.
FTX’s bankruptcy plan has provided for cash distributions to eligible creditors, with many customers receiving recoveries based on the value of their claims.
Prosecutors have argued that later asset recoveries do not change the conduct underlying the criminal case.
Their case centered on allegations that Bankman-Fried transferred billions of dollars in FTX customer funds to Alameda and other entities without authorization.
The Second Circuit upheld that theory and affirmed the district court judgment.
Bankman-Fried founded FTX in 2019 and built it into one of the world’s largest cryptocurrency exchanges before its collapse in November 2022.
The exchange failed after a rush of customer withdrawals exposed a shortfall in available funds.
Bankman-Fried was arrested in the Bahamas in December 2022 and extradited to the US.
Prosecutors accused him of misusing customer funds for investments, political donations, property purchases and other expenditures while presenting FTX as financially sound.
A federal jury convicted him after a monthlong trial.
His Supreme Court filing is now the most important remaining judicial avenue for challenging that conviction.
The justices could decline to hear the petition, leaving the appellate ruling intact.
If they accept the case, the court could review questions involving trial evidence, criminal procedure and the forfeiture order.
Bankman-Fried is also pursuing a separate route through the executive branch.
The US Office of the Pardon Attorney lists a pardon application from Bankman-Fried as pending, according to Cryptonews.
That process is separate from the Supreme Court appeal and would depend on action by President Donald Trump.
The request comes after Trump granted clemency in other high-profile crypto cases, including Silk Road founder Ross Ulbricht and Binance co-founder Changpeng Zhao.
Bankman-Fried has continued to maintain his innocence despite his conviction and unsuccessful appeal.
The next step now rests with the Supreme Court, which will decide whether his case presents legal questions serious enough to warrant review.
