(NEW YORK) -- A federal appeals court on Friday upheld the cryptocurrency fraud conviction of FTX founder Sam Bankman-Fried.

The opinion came the same week Bankman-Fried submitted his application for a presidential pardon.

Bankman-Fried was convicted of masterminding one of the largest financial frauds in history stemming from the collapse of the crypto-exchange FTX. He is serving a 25-year prison sentence.

This is a developing story. Please check back for updates.
 

Copyright © 2026, ABC Audio. All rights reserved.