Sam Bankman‑Fried, the former CEO of FTX, is appealing his conviction and 25‑year prison sentence by asking the United States Court of Appeals for the Second Circuit (“Second Circuit”) for a new trial. The upcoming hearing (scheduled for November 4) will focus not on the guilt or innocence of Bankman‑Fried, but on whether his original trial, before Lewis Kaplan in the United States District Court for the Southern District of New York, was conducted fairly. His defense team argues that Judge Kaplan showed bias and made procedural decisions that compromised the fairness of the trial. Howard notes, “Appellate courts are very reluctant to disturb the way that a trial court conducted its trial, particularly during a complicated case. And even if the judge did make some mistakes, the appellate court might not overturn the results if the result was ‘still fundamentally fair.’”

If this appeal fails, Bankman‑Fried appears to be exploring other options including lobbying for a presidential pardon, though sources say his chances are slim compared to other crypto executives who have had closer political or business ties.