The Road Closes and Politics Comes Into Play 🔍
On August 4, 2026, the Second Circuit issued a one-page mandate that definitively closes SBF’s appeal. Case No. 24-961 is sealed with the confirmation of the 7 counts and the 25-year sentence.
⚖️ No room for error
The panel of judges (Barrington D. Parker, Eunice C. Lee, and Maria Araújo Kahn) found no reversible errors at trial. The court was clear: the fraud occurred at the exact moment the clients’ funds were transferred to Alameda Research, regardless of whether SBF believed he could return them.
🏛️ Judicial closure and political pressure
Bankman-Fried’s options are limited. He can request a certiorari from the Supreme Court within 90 days, although the court accepts only a small fraction of these petitions.
At the same time, he has requested a presidential pardon from the Department of Justice. However, the U.S. Senate unanimously approved a bipartisan resolution (led by Senators Lummis and Gallego) opposing any pardon or commutation for SBF “under no circumstances.” Gallego’s conclusion was unequivocal: “Keep him locked up.”
💰 Separated paths
Meanwhile, FTX creditors received a fifth round of payments in late July, with nearly $900 million distributed. The recovery of funds and SBF’s criminal conviction are completely separate tracks.
Will SBF reach the Supreme Court, or will the pardon attempt fail? Time will tell. ⏳
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#SBF #FTX #Justicia #PolíticaCrypto