Sam Bankman-Fried’s conviction upheld by appeals court

Former crypto tycoon Sam Bankman-Fried has lost his bid to overturn his fraud conviction and 25-year prison sentence over the collapse of the FTX cryptocurrency exchange he founded.

The decision was handed down by a three-judge panel of the Manhattan-based 2nd ​U.S. Circuit Court of Appeals.

Circuit Judge Barrington Parker, writing on behalf of the panel, highlighted Bankman-Fried's deceptive practices.

Bankman-Fried’s lawyers did not immediately respond to a request for comment.