U.S. Appeals Court Rejects SBF's Appeal; Presidential Pardon Odds at 14% as Legal Options Narrow

According to BlockBeats citing a deep report from The New York Magazine, on June 12, the U.S. Court of Appeals for the Second Circuit rejected FTX founder Sam Bankman-Fried's formal appeal, narrowing his legal remedies. Bankman-Fried, serving a 25-year sentence since March 2024 for fraud and conspiracy, formally submitted a presidential pardon petition this month; according to Polymarket data, his probability of receiving a pardon before 2027 stands at approximately 14%.

Despite his parents hiring Republican lobbyists and his mother Barbara Fried publishing support on Substack, Bankman-Fried's political prospects remain bleak. Former President Trump stated earlier this year he has "no plans" to pardon SBF, and Republican crypto-friendly Senator Cynthia Lummis also publicly opposed clemency. By contrast, Changpeng Zhao was granted a Trump pardon partly because his exchange supported Trump's World Liberty Financial project. Bankman-Fried maintains his innocence, arguing the $8 billion customer fund loss resulted from accounting errors rather than intentional fraud.