Sam Bankman-Fried loses appeal of fraud conviction in FTX case

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.

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