FTX News: Sam Bankman-Fried's Appeals Court Hearing Saw Skeptical Judges

Sam Bankman-Fried's appeal against his criminal conviction was heard by the Second Circuit Court of Appeals, with judges expressing skepticism towards his arguments. His attorney, Alexandra Shapiro, contended that Bankman-Fried did not receive a fair trial and that Judge Lewis Kaplan was biased against him. The appeal requested a new trial based on claims that the defense was limited in presenting evidence of good faith intentions regarding FTX’s financial operations. However, the judges questioned the validity of these arguments. The prosecution asserted that the trial’s outcome was unaffected by any alleged bias. A significant point discussed was the $11 billion forfeiture amount aimed at compensating victims of the FTX collapse, raising questions about how such a number is justified, especially if customer recoveries may be achievable. With no clear indication of how the judges might rule, the wait for a decision continues, marking a critical moment for Bankman-Fried's legal future.

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