SBF Appeals FTX Conviction, FTX Creditors Face Harsh Reality

Former FTX CEO Sam Bankman-Fried (SBF) will appeal his conviction to the Second Circuit Court, arguing that the trial was rigged. Meanwhile, FTX creditors are facing harsh realities as the bankruptcy estate controls only $16 billion in assets, with recovery rates ranging from 9% to 46% depending on the token. SBF's lawyers are claiming that Judge Lewis Kaplan tainted the jury, and traders are speculating about the possibility of a presidential pardon from Donald Trump.