Disgraced FTX Chief SBF Moves Toward Appeal: Will Sam Discover Loopholes Or Hope For Trump Crypto Clemency?
The downfall of FTX is almost finalized. On Tuesday, former FTX CEO Sam Bankman-Fried (SBF) will appear before the Second Circuit Court, attempting to overturn a conviction that has rendered him synonymous with crypto’s downfall.
Are you still keeping all your tokens on a centralized exchange like FTX? It would seem reckless! Or perhaps you should consult your KOL before making any decisions?
Regardless, SBF’s attorneys contend that Judge Lewis Kaplan compromised the jury and that the trial was skewed from the beginning.
This assertion stands on fragile ground. The individual who once vowed to rectify finance now has only one aim left: to survive his own calamity.
“The manner in which the court handled the trial was fundamentally unjust,” commented Howard Fischer, a partner at Moses Singer, during an interview with CoinDesk TV.
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Will FTX Traders Experience a Larger Bailout? The Figures Don’t Favor FTX Creditors
While SBF’s appeal progresses, FTX creditors are still tallying their losses, and the figures are grim. As per a TradingView report, the FTX bankruptcy estate has around $16 billion in assets, yet only a small portion is being allocated in crypto equivalents.
Additionally, notable creditor Sunil estimated that “real recovery rates” vary from 9% to 46%, depending on the token. His analysis reveals that the much-publicized 143% fiat payout equates to only 22% in Bitcoin, 46% in ETH, and 12% in Solana, amid a significant crypto asset surge since 2022.
The conclusion is that most of these traders missed out on possible profits.
“FTX creditors are not whole,” Sunil noted on X. “The fiat payment fails to reflect the diminished crypto value.”
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Is Sam Bankman-Fried Trump’s Next Pardoned Individual? SBF’s Final Stand Against the Grim Reality for FTX Creditors
Donald Trump’s ventures into crypto and crypto-related politics, including pardoning both Ross Ulbricht of Silk Road and CZ of Binance, triggered a ripple effect across markets from X to Polymarket. While addressing supporters at a campaign event, he defended former Binance CEO Changpeng Zhao:
“They claimed what he did wasn’t actually a crime… I granted him a pardon at the request of many esteemed individuals.”
Within a short time, traders began to consider the likelihood of a presidential pardon for SBF. On Polymarket, the chances of SBF being released surged from 5.6% to nearly 19% before stabilizing at around 6%.
— CZ
BNB (@cz_binance) October 24, 2025
CZ, now maintaining a more reserved presence, shared a succinct recognition on X. His self-aggrandizing remarks, combined with Trump’s comments, fueled speculation immensely.
FTX Creditors Uncover “Phantom” Repayments
Data from CoinGecko and Glassnode indicates that the trading market value of cryptocurrencies has quadrupled since the collapse of FTX, rendering bankruptcy disbursements a mere fraction of the current asset values.
This is why nearly no one is advocating for an SBF pardon. His appeal has come to symbolize both legal desperation and the uncomfortable reality that, even within a trillion-dollar industry, one can still be victimized.
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Key Takeaways
- FTX’s fall from grace is nearly complete. On Tuesday, former FTX CEO Sam Bankman-Fried (SBF) will stand before the Second Circuit Court.
- His appeal has become a symbol of both legal desperation and the uneasy truth that, even in a trillion-dollar market, you can still get rugpulled.
The post Disgraced FTX Boss SBF Heads For Appeal: Will Sam Find Wiggle Room Or Pray For Trump Crypto Pardon? appeared first on 99Bitcoins.
