1. The Essence of the Appeal
2. Defense's Version
3. Consequences and Reactions

Sam Bankman-Fried, the founder and ex-CEO of FTX, has officially filed an appeal to overturn his fraud conviction after spending five months in jail.

The Essence of the Appeal

Sam Bankman-Fried's lawyers argue that the first trial was unfair and biased. They claim that everyone involved, including the media, federal prosecutors, the FTX debtor estate, and even the judge, had already made up their minds that he was guilty before the trial even began.

Defense's Version

Sam Bankman-Fried's lawyers state that by November 2022, FTX was still solvent, with $1 billion in revenue. They argue that the collapse was not due to fraud but due to external market pressures and a liquidity crisis triggered by a wave of customer withdrawals.

Consequences and Reactions

Other former executives at FTX and Alameda have already pleaded guilty. Caroline Ellison, who ran Alameda, Ryan Salame, who was CEO of FTX Digital Markets, Gary Wang, FTX’s former CTO, and Nishad Singh, FTX’s engineering chief, have admitted guilt and cooperated with the prosecution.

Sam Bankman-Fried hopes for a retrial to prove his innocence. The case continues to unfold, and future developments are awaited.